News From The Sports Scene

Gaming revenues on the rise online and state wide in Nevada

Gaming revenues on the rise online and state-wide in Nevada

After a less than satisfactory Q3 in 2013 ending with a lackluster October, experts predicted a decent rebound for casinos on the strip. They did not however expect to see such dramatic results as a 22.6% increase in gaming revenues throughout the state.

Baccarat games had a 94% jump while table games in general showed a 53.5% increase in revenues. November had the second largest increase in gaming revenues of 2013 for Strip casinos during 2013.

Nevada's Gaming Control Board announced on Monday that casinos state-wide had garnered $875.9 million from gamblers and bettors in November. This represents an 11.9% hike from the same period in 2012, or an increase from the $782.7 million collected last year. The rise also represented the third consecutive month of revenue increase.

Gaming revenues on the strip reached $529.4 million mainly from table games. Table games showed the biggest rise in figures with Baccarat games up 90.5% compared to 2012 and even sports betting collected $14.3 million in comparison to the $400.000 losses of 2012.

Chad Beynon, an analyst at Macquarie Securities, told investors, "November’s Strip strength was expected given commentary from companies, but not to this degree".

All rights reserved.