Slight improvements in Nevada May revenues

Statistics released Thursday by the Nevada Gaming Control Board show that land casino gaming revenue in the state rose 1.37 percent in May to $897.2 million, driven by an improved 11 percent win rate on baccarat compared with the 8 percent experienced in the same month in 2012.

Overall table game win rose 7.2 percent to $293.6 million, despite the fact that total table game handle fell 7 percent.

Slots win hit 6.43 percent, adding $581.4 million to Nevada’s May numbers.

The Board reports that overall results were better on the Las Vegas Strip, with revenue up 6.8 percent, and note that over the year so far statewide gaming revenue is up 2.4 percent to $10.1 billion.

Casino winnings in Reno jumped 9.8 percent.

Baccarat revenue topped all table games, up over 25 percent to $93.1 million; blackjack rose 15 percent to $83.2 million; craps was up almost 17 percent to $33.4 million, and roulette was slightly lower at $32 million.

On the poker front, three-card poker delivered revenues of $13,2 million – up about 6 percent; Pai gow poker went over 6 percent negative to $8.9 million; mini-baccarat soared 25 percent to $8.2 million; keno went negative by almost 3 percent to $2.7 million; bingo came in at $1.5 million from a low base; and ‘other games’ revenues were up 3 percent at $13 million.

Poker revenues declined 1 percent to $10.4 million, an interesting development coinciding with Ultimate Poker’s debut in late April as Nevada’s first legal and licensed online poker venue.

Sportsbook revenues slipped drastically by over 40 percent to $5.7 million with an almost 3 percent hold, but racing showed a 3.5 percent rise in revenues to $5.7 million, with hold up a creditable 15.3 percent. Football betting was dismal, basketball wagering plunged over 56 percent to a miniscule $1.7 million, and baseball delivered $4.2 million – a significant 22.3 percent decline compoared with May 2012.

State taxes collected on the May win totaled $57.5 million, an increase of 10.9 percent.