Nevada Gaming Revenues Decline By 22.1% in August 2020

Nevada Sign On Highway

The effects of the COVID-19 pandemic continue to plague the gambling industry in Nevada as the gaming win for August was down by 22% from the same month one year ago and below the July 2020 figures.

According to a Wednesday report from the Nevada Gaming Control Board, Nevada casinos reported a gaming win of $743M for August 2020 which is way below the $954M they collected from gamblers in August 2019. It also fell short, but not by much, of July 2020’s $756M gaming win.

Strip Takes Biggest Hit

The Last Vegas Strip took the biggest monthly hit as the gaming revenues fell to $317.M of 39.2%. Strip gaming wins decreased by 99% in April and May but improved to a 61% decline in June and 39.2% in July. For the month of August, the Las Vegas Strip contributed 97.1% of the state’s total decline.

Properties in Downtown Las Vegas also experienced a 22% decline in gaming wins. Revenues also fell 14% in Reno, 9.5% in Laughlin, and 7.6% in South Lake Tahoe. However, there were some bright spots like the Boulder Strip in Southern Nevada which saw an increase of 29.6% and North Las Vegas which had an increase of nearly 2%.

Record Sports Bets

Nevada sportsbooks were also a bright spot in August as they wrote a record number of sports bet for the month. With the NBA and NHL playing in a month where their season would’ve been over in previous years, sportsbooks in Nevada took a total of $475.1M in bets or a 64.9% increase from 2019.

64.3% of the total sports bets were made via mobile betting apps where casinos won $11M on a total of $305.5M in bets. Overall, revenue from sports betting totalled $17M which was a 9.3% decline from a year ago. The decrease was attributed to the cancellation of college football games and the lack of an NFL preseason.

Lifting Ban on Gatherings

Gov. Steve Sisolak said on Tuesday that the state would lift the 50-person cap on public and Private gatherings beginning Thursday. Venues with a capacity of more than 2,500 can submit proposals to operate at 10% capacity while smaller venues will be allowed to have a crowd of up to 250. The state is hoping that the move will kick-start conventions, concerts, sports events, and trade shows that not only power the state’s economy but help bring people to casinos as well.

August was the second full month of operations for Nevada casinos. The state’s gambling industry was shut down for 78 days starting March 18th due to the outbreak of the COVID-19 virus. They have since been allowed to reopen but subject to health, safety and cleaning protocols. Guidelines like social distancing and limited operating capacity have hampered their operations, thus affecting revenues.

Sahara Las Vegas and Grand Sierra To Pay $75K in Fines

Sahara Las Vegas Logo
The Sahara on the Las Vegas Strip and the Grand Sierra in Reno will pay $75,000 as a joint settlement for violating the state’s COVID-19 health and safety protocols.

According to settlement documents, the Los Angeles-based Meruelo Group, which owns both Sahara and Grand Sierra, did not “admit nor deny” the allegations. However, the Nevada casino operator agreed on the joint settlement because they believe that the Nevada Gaming Board “could meet its burden of proof if these matters were to proceed to the evidentiary hearing before the Commission.”

In a statement, the Meruelo Group said:

“Nothing is more important to us than the health and safety of our guests and team members and we will continue to work cooperatively with government agencies to meet these high standards and ensure compliance across our resorts.”

Various COVID-19 Related Violations

The Board filed a case against the Sahara Las Vegas last August, alleging that the resort hosted a July 23 luncheon event which was attended by an estimated 135 people. The state’s coronavirus guidelines permit Nevada casinos to host gatherings with a maximum of 50 people. Another case filed alleged that the hotel-casino allowed its customers to break social distancing rules at blackjack and craps tables last June 16.

On the other hand, a three-count case was filed against Grand Sierra last August 7th. In the complaint, Nevada regulators claimed that on three different occasions, state gaming agents witnessed guests not wearing masks inside the casino-hotel premises. The agents also said that casino officials and employees didn’t do anything to correct the practice.

Gaming Regulators File Complaints

Since Nevada casinos reopened last June 4th, gaming regulators have filed a total of six disciplinary complaints against Nevada casinos for COVID-19 related violations. Four of the cases have already been settled and were due for consideration on Thursday.

Bowl Incline in Lake Tahoe will pay $5,000 for not closing its bar top games on July 10. Slot operator Century Gaming is set to pay $15,000 for the same infraction involving Cheers Bar. Hotel Ely agreed to pay $15,000 after several employees were seen not wearing face masks. Meanwhile, the owners of the C.O.D. Casino also settled for a $30,000 payment for face mask violations.

Nevada casinos were allowed to open again last June with the state enforcing strict COVID-19 health and safety guidelines. The restrictions include reduced occupancy, more space between gamblers, head count limit for meeting and convention spaces.

Boyd Gaming’s Eldorado Casino Granted Non-Operational License Until 2021

Boyd Gaming

The Henderson City Council approved on Tuesday Boyd Gaming Corp.’s request for a non-operational license for its Eldorado Casino until June 2021.

It can be recalled that last July, Boyd Gaming filed with the Council documents requesting to change the gaming and liquor license of its Water Street property to non-operational until June of next year. With the approval, Eldorado Casino will be able to keep its licenses while remaining closed until June 2021.

In its letter to the City Council, Boy Gaming Corp.’s Vice President for Regulatory Compliance and Compliance Officer Michelle Rasmusson wrote:

“When a decision is made to reopen the property, we will submit a reopening plan prior to reopening. We look forward to working with the City of Henderson on reopening the property safely and in compliance with all applicable requirements at a future date.”

One of Three Boyd Properties That Remain Closed

Eldorado Casino is one of three Boyd properties in the North Nevada territory that remain closed due to the coronavirus pandemic, with Eastside Cannery and Main Street Station being the other two.

Established in 1961, Eldorado Casino underwent major renovations in 1997 and 2007. It has a gaming floor of 30,000 square feet and has more than 400 slot machines. Eldorado also offers Keno and Bingo in its venue while also housing a sportsbook. The property was shut down last March 17th following the order of Governor Steve Sisolak as part of the state’s effort to help reduce the spread of COVID-19.

Many Nevada Casinos are Still Closed

Boyd Casino isn’t the first gambling operator to make a similar request to the City Council. It can be recalled that Station Casinos also requested for the closure of three casinos-Fiesta Rancho, Fiesta Henderson, and Texas Station. All three requests were approved by North Las Vegas and Henderson City Councils.

Even major companies like Caesars Entertainment and MGM Resorts International still have some properties closed to date. Among these are Caeasars’ Planet Hollywood Resort, The Linq, Rio, and Cromwell. Park MGM is still closed while the Mirage is still scheduled to open before the Labor Day weekend.

Visitor numbers in the state are down and that coupled with the casino’s reduced capacity due to extensive health and safety measures has made it non-viable for some Nevada casinos to open at the moment. And in the light of the continuing pandemic, there is no guarantee that all casinos who are temporarily closed will eventually resume business activity in the future.

Here’s a Look at Nevada’s Gaming Revenue for June of 2020

The state of Nevada has been trying to boost its tourism industry for months. Casinos were finally given permission to reopen in June, and many experts felt that revenue would increase here considerably. This week, reports on Nevada’s gaming revenue for June were officially revealed to the public.Revenue Drop Picture

It’s clear that things are improving here. It will still be months, at least, before things truly get back to normal. Now is the perfect time to look at how much money casinos in this state managed to bring in last month.

Let’s get into it!

The Las Vegas Casino Industry Continues to Evolve

Our team has been covering the news of what’s happening in Nevada for months. As most already know, the casinos in this state were forced to close down back in March. These massive gambling venues remained closed for nearly three months.

Residents across Nevada started to demand change. Closing casinos had a devastating impact on the state’s economy. That was especially true in Las Vegas, which relies almost entirely on tourism and gambling revenue.

Casinos in the state were given permission to reopen on June 4th. At first, only a few casinos reopened including the New York-New York Hotel-Casino and The Bellagio. Over the next few weeks, more casinos on the Las Vegas Strip started to reopen.

We’re now entering August, and all of the major casino-resorts in Las Vegas have reopened. Tourism rates in Las Vegas continue to fluctuate. As more regulations are implemented inside these casinos, less visitors seem to be heading into the city.

During the months of March, April, and May, gambling revenue in Nevada was almost non-existent. Analysts were torn on how much money would be made in June. Now, we’re finally seeing how much revenue the casinos here managed to bring in last month.

Reports On Nevada’s Gaming Revenue For June are Out!

As we just mentioned, the casinos in Las Vegas were given permission to open back up on June 4th. It was exciting news for casino companies across the state. Even the top gaming analysts in the country couldn’t predict how much money these venues would bring in, though.

The Nevada Gaming Control Board has just released its revenue reports for the month of June. According to these reports, the state’s casinos managed to bring in $566.8 million last month. That represents a 45.5% decrease from June of 2019.

With that being said, casinos here are happy to see any revenue come in. Some are surprised to see which parts of the state saw their revenue jump the most. Nevada’s gaming revenue for June on the Las Vegas Strip fell by an astounding 61.4%. Revenue in Downtown Las Vegas fell by 55.6% when compared to 2019.

The revenue drop in more local casino destinations was far lower. This clearly shows that tourism rates in the city have dropped considerably. Interestingly, Nevada saw its sports betting revenue win streak come to an end.

Statewide, Nevada’s sportsbooks saw a drop in revenue of $483,000. Much of that is due to casinos opening and winning bettors cashing in their tickets.

The state of Nevada isn’t experiencing the same level of success that it did at the start of 2020. Fortunately, things seem to be improving. McCarran Airport saw triple the number of visitors in June that it did in May. Many feel that tourism rates here will gradually increase as the year goes on.

How Are Other Casino Destinations Doing Right Now?

Nevada isn’t the only state to see its gambling revenue drop. In fact, this state is doing much better than many others when it comes to their casino industries. It’s not surprising, as states like New Jersey did not allow their casino industries to begin operating again until July.

Things aren’t looking great.

New Jersey’s gambling revenue fell by nearly 67% during June. All land-based gambling venues were completely closed down during this time. Interestingly, online gambling revenue was actually up this month.

New reports indicate that online gambling revenue increased by 123% in June. Many of the casino companies operating here are now focusing considerably more on offering better online gambling platforms. Casinos in Atlantic City reopened in July and revenue here is guaranteed to be considerably higher than it was in June.

All states are now allowing casinos to begin operating again. Some are implementing stricter regulations than others. Even Florida, known for having some of the loosest regulations towards Covid-19 in the country, is looking closer at ways to make casinos safer. The Seminole Tribe here recently announced several new safety measures to better protect guests at Hard Rock Casinos.

Nevada’s gaming revenue dropped considerably in June. Many are simply happy to see casinos bringing in some cash. We’ll continue offering updates on US casino revenue over the next few months!

When do you expect casino revenue to get back to 2019 levels? Let us know in the comments section below!

Wearing Masks in Nevada Casinos is No Longer Optional

Yesterday, Governor Steve Sisolak did what many analysts predicted he would be forced to do. In order to better protect the public’s health, Sisolak announced that masks will now be required when going into public areas. This, of course, means that wearing masks in Nevada casinos is no longer optional.Slot Machines Inside Casino

The state seems torn on whether or not this is a good idea. Most agree that it will have a significant impact on the casino companies here. Today, we’re going to take a look at how long this new regulation will last for.

Let’s get into it!

Infections Begin to Rise in Several States Around the Country

For the past three months, most of the country has been in some form of lockdown due to concerns of the new coronavirus. It didn’t take long for New York to become the epicenter of this new pandemic and NYC began quickly shutting down. Over the past few weeks, it seemed as if cases in this state were dropping.

Unfortunately, other parts of the country are now seeing their cases surge. That includes Arizona, Florida, Alabama, and Texas. Some health experts are pointing to the fact that these states were some of the first to relax their stay-at-home orders.

It’s a troubling sign. Most state officials claim that closing down their local economies is not a realistic option. Unless cases begin to drop, however, these leaders may need to come up with new regulations.

Over in Nevada, cases of Covid-19 are starting to increase, as well. Over the past 24 hours, nearly 500 new cases were recorded in this state. That’s disappointing news for the casino companies in this state, many of whom have just recently begun to start operating again.

No one really knows the best way to stop infection spread without severely damaging the economy. Health officials continue to tout mask-wearing as an effective way to limit infection spread. Nevada’s leaders are now hoping that this strategy pays off.

Governor Sisolak Now Requires Wearing Masks in Nevada Casinos

In early June, many of the top casinos in Las Vegas finally reopened to the public. It was hugely important, as these casinos were slowly creeping towards bankruptcy. Hundreds of thousands of residents in the state were affected by the shutdown.

Since the casinos opened back up, tourism rates have been slowly increasing. Casino owners here are doing almost anything they can to bring in more visitors. Derek Stevens, for example, recently began offering thousands of free flights to the city.

Unfortunately, we may soon see tourism rates begin to drop here. This week, Governor Sisolak announced that masks must be worn in all public areas. To the disappointment of some, that means wearing masks in Nevada casinos is now officially required.

“This is a state that prides itself on the spirit of individualism,” Sisolak said. “It is part of what makes us great. So I’m asking all of us to take our independent spirit and turn that into our individual responsibility to keep the lights on for businesses throughout our state. As I said last week, we’re not post-COVID. We’re still in the middle of the first phase, the first wave of COVID. So please, I cannot emphasize this enough, wear your face covering anytime you leave your house, when you go to a restaurant, and you stop the pharmacy, when you enter a casino. Wear your face covering.”

The requirement to wear masks in public officially goes into law at 12:01 am on Friday morning. Many have already expressed fear that this could hurt the already-struggling tourism industry here.

Will Nevada’s New Mask Law Damage Tourism?

Like all other states, Nevada has been having a difficult time attracting visitors. Travel is still unadvised and many have fears about visiting crowded venues like casinos. Those that are willing to make the trip to a Las Vegas casino are probably not concerned about Covid-19.

For that reason, many believe that tourism may begin to drop here. Wearing masks in Nevada casinos is no longer optional. Some gamblers may no longer want to visit a casino if it means you need to wear a facial covering.

It’s a very difficult situation. Sisolak is following the advice of health officials, who believe masks can help to reduce the spread of this new virus. It’s likely that this will take a serious toll on the state’s tourism industry, though.

We will not know the effects of this decision for at least a few weeks. If infection rates in the state start to drop, Sisolak may decide to lift this new regulation.

More casinos are opening up each week. That includes most of the biggest ones on the Las Vegas Strip. Hopefully, these properties earn enough revenue to remain operational.

How do you feel about wearing masks in Nevada casinos? Will this result in less tourism here? Let us know in the comments section below!