In mid-March, Nevada Governor Steve Sisolak had to make a difficult decision. Due to the global COVID-19 pandemic, he was forced to announce the temporary closure of all Nevada casinos. For more than ten weeks, these establishments were forced to remain closed. Then, in early June, they were allowed to reopen.
The results for this first month of business resumption are finally in. We’ll discover them together in the rest of this news story.
Nevada casino revenues drop dramatically
During the month of June 2020, Nevada casinos generated approximately $567 million in gross revenue. This represents a 45.6% decrease compared to the same period last year. The decline is even more significant for Strip gaming resorts, which earned only $238.3 million, a drop of more than 61% compared to the same month in 2019.
On the other hand, things went better in Reno, for example, where establishments managed to rake in $46.6 million, a decrease of only 8.5%. Finally, casinos located in the city of Mesquite were the only ones to record an increase in their gross revenue. These increased by 3.2% to reach $10 million.
All games down except bingo
Typically, the table games that generate the most revenue in Nevada casinos are blackjack and baccarat. During the month of June, revenue from these tables decreased by 40% and 70%, respectively. Slot machine revenue, meanwhile, declined by 38%. One game did manage to register an increase, however: bingo, whose revenue still managed to increase by 246%.
For the first time since July 2013, sports betting results are down, ending 83 consecutive months of growth. Admittedly, few competitions were available in June. Indeed, bettors had to rely primarily on golf, as the PGA Tour was one of the few major sporting events still running.
In an attempt to fill this void, schools have targeted less popular sports such as table tennis and soccer in Ukraine. Schools are therefore eagerly awaiting the return of baseball (MLB), basketball (NBA), and American football (NFL) leagues.
Health rules that must be strictly observed
This week, Steve Sisolak urged Nevadans and tourists to strictly adhere to health regulations. Everyone must follow guidelines by wearing face masks and practicing social distancing. Casinos, for example, must be capped at 50% occupancy.
Given the disastrous results forecast for 2020, we can bet that all gaming industry professionals will be careful to follow all these recommendations. Indeed, none of them want a new shutdown or an extension of the health regulations.
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