Nevada Now World’s Gaming Capital Following Strong June

Nevada Now World’s Gaming Capital Following Strong June

Nevada has recorded a GGR of $1.27 billion for the month of June, marking the 16th consecutive month that Las Vegas’ home state has exceeded $1 billion in revenue. As a result of Macau’s current difficulties, Nevada has become the global gambling capital. Baccarat had the most year-over-year revenue growth, netting a staggering $143.2 million.

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Baccarat Generated the Most Revenue Year-Over-Year

The June 2022 revenue indicates an increase of 8.06 percent compared to the June 2021 revenue of $1.18 billion. Baccarat had the most year-over-year revenue growth, with a 237 percent rise to $143.2 million. Card games increased by 83% to reach $46.3 million.

Specifically, Ultimate Texas Hold’em saw a 22 percent rise to $14 million. Slot machine revenue increased by 22 percent to $10.8 million. However, not all slot kinds are included in this statistic. Slots with denominations of one penny, twenty-five cents, and twenty-five dollars had reductions throughout the month of June.

Michael Lawton, a senior economic analyst at the Nevada Gaming Control Board, indicated that the state has reached parity with the pre-pandemic period in terms of gaming win amounts. June continues the tremendous sales surge that was also seen in May.

The Las Vegas Strip saw the highest revenue rise in the state. This region’s GGR increased by 22.7 percent in June 2022 compared to June 2021. Balance of County had a rise of 20.41 percent, North Lake Tahoe saw an increase of 11.4 percent, and Clark County saw an increase of 10.49 percent.

Some localities in the Silver State actually saw revenue declines relative to June 2021. In June 2022, South Lake Tahoe’s GGR decreased by a staggering 28.75 percent. North Las Vegas’ GGR decreased by 8.31% in June, while Boulder Strip’s GGR decreased by 11.86%. Laughlin too had a difficult June, as its GGR decreased by 14.65% compared to June 2021.

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Nevada casinos also had a record-breaking fiscal year

The Nevada Gaming Control Board also stated that the gross gaming revenue for the fiscal year ending June 30, 2021/2022 was $14.63 billion. This figure represents the greatest fiscal year performance in the state’s history. John DeCree, a senior analyst at CBRE Equity Research, believes that casinos should proceed with caution, since the pace is expected to decrease.

He indicated that the United States is most certainly “going towards an official recession” due to two straight quarters of GDP reduction. Despite the warning, it is indisputable that Nevada’s casinos had good revenue results. The previous GGR record for a fiscal year was $12.7 billion during the 2007/2008 fiscal year.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.