Nevada suffers gambling revenue fall in 2014

Las Vegas and Nevada state both saw a decline in gambling revenue during 2014.

After four years of growth, Las Vegas encountered a 2.1% fall to US$6.37 billion (€5.62 billionn), while Nevada as a whole saw a decline of 1.1% to $11 billion.

However, the figures for Nevada’s largest industry, which were revealed by the state’s Gaming Control Board, only show part of the story as the recently-released Gaming Abstract showed Strip casinos increasing total revenue in the last fiscal year by 5% and with non-gaming spending accounting for 63.3% of the overall figure.

One bright note was that the state registered its best ever sports betting revenue of $227 million, which was a rise of 11.8% on 2013.

Gamblers wagered $3.9 billion on sports during the year, an increase of 7.7%.

Control Board senior research analyst Michael Lawton said: “Sports betting volumes have set records in five consecutive years and win totals have set records in three consecutive years. This year without a doubt, sports betting was the growth story.”

For all of 2014, Nevada collected $1.5 billion from baccarat, which was decline of 5.9% compared to 2013, while casinos won $1.06 billion on blackjack and $2.62 billion on penny slots.

In January, the state collected $43.7 million in gaming taxes based on December’s gaming revenue totals, an increase of almost 23% over a year ago. For the first seven months of the fiscal year, gaming tax collections are up 1.9%.

related article  :  Nevada online poker revenue falls again in October

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