NGCB reports a lower revenue for Nevada in June

NGCB, short for Nevada Gaming Control Board, has published its revenue for the month of June this year, which is 2023. The numbers are not precisely alarming, but they are worth noting nevertheless. The total revenue for June has dipped in two aspects – Month-on-Month and Year-on-Year. The figure stands at $1.25 billion. This is down from the $1.28 billion recorded in June 2022 last year. Also, it is a fall from $1.29 billion in May this year. The Month-on-Month fall comes to 3.1%, and the Year-on-Year fall comes to 2.3%.

Nevada has less to worry about unless the trend continues for the next couple of months.

Out of all the available categories, slots remained at the top of the list to generate revenue. Per the report published by NGCB, slots were the main source of revenue in June, with the machines generating approximately $836.2 million. The number is impressive, but it is in line with the ongoing downward trend.

Slots registered a revenue that is down by 0.3% on a Year-on-Year basis. The main figure can be broken down into categories:

• Penny slots – $255.2 million revenue
• Multi-Denomination Slots – $486.2 million revenue

Other categories include Blackjack, counter, table, and card games. Of them, Blackjack stood out with a revenue of $104.0 million. Others brought merely $409.6 million. Sports betting suffered the most, with a downfall of 60.1%, with the figure amounting to $9.5 million.

Baseball and hockey were the two favorite sports of the betting community. Here’s how the report by NGCB has shown them in statistical reference:

• Baseball – $14.5 million revenue
• Hockey – $6.6 million loss

According to the gambling news, the loss has extended to football and basketball too. Both sports have incurred $1.6 million and $328k, respectively, in bets. Every other sport has generated a combined revenue of $3.5 million. This can be credited to two factors: no major global event happening for the community or other sports gaining higher traction at the moment. Also, a major portion of bets is placed depending on how the platforms are driving traffic toward them.

For instance, platforms can launch a promotion dedicatedly to a football event. This would help them get more bets for the game. Hence, a few sports experiencing a setback is nothing but a temporary milestone that will be recovered once a major event is broadcasted.

Nevada Gaming Control Board has also highlighted the June revenue for Clark County and Las Vegas Strip. Both regions have earned revenue of $1.07 billion and $727.3 million, respectively. These are, needless to say, exclusively for Las Vegas.

Michigan is another region where there was a dip in sports betting during June 2023. The revenue came to $169.3 million. These updates come as a couple of casinos in Massachusetts face fines for breaching the betting rules in the country.

Nevada gears up for a new monthly report, hopeful that the revenue will not slip down by a huge margin to further worsen the trend.