Income from gambling in Nevada falls once more in April

April in Nevada
With a 6.9% increase over $1.16 billion in April of previous year, the total for March of this year was $3.9% lower than $1.29 billion in Nevada. Also, February's number was higher because the NFL Super Bowl occurred in Nevada, but March's total was lower because of that.

Slot machines brought in $886.8 million, making them the principal source of income for operators once again. The previous year's April total was 5.9% lower. With a gain of 26.4%, multi-denomination slots brought in $586.8 million that month. 

Additionally, high-stakes slot machines generated more money, with gains of 137.6% for $25 machines and 14.5% for $100 machines. Contrarily, all lower-stakes machines had a decline in income compared to the previous year.

Growth is driven by blackjack and baccarat.
Outside of Las Vegas, the state saw a 9.8 percent increase, to $353.4 million, in income from table, counter, and card games, which includes sports betting. 

With $110.2m in April, a 16.0% year-on-year increase, blackjack brought in the greatest money within this segment. Revenue from baccarat surged 72.5% to $76.1m, while that from roulette rose 4.6% to $35.9m.

On the other hand, Ultimate Texas Hold 'em saw a slight decline of 1.1% to $15.1m in revenue, while craps saw a 25.5% reduction to $30.3m.

April sports betting revenue falls by 5.0 percent
Now we'll shift our attention to the sports betting business, where April revenue dropped 5.0% to $30.8m.

The largest decline was in basketball wagering, which resulted in $13.3 million in income. Baseball betting brought in $10.7 million, an increase of 18.4%, while hockey betting brought in $5.7 million, an increase of 74.2%.

Although operators lost $5.7 million on football betting in April, it was a 17.1% improvement from the previous April. Other sports wagering brought in $6.8 million, a decrease of 31.6% from the previous year.

Online sports betting in Nevada generated about $24.5 million.

Las Vegas Strip earns $666.1 million
April earnings for the world-renown Las Vegas Strip came to $666.1 million. This is up 6.6% from the previous year's March total but down 7.0% from the previous month.

Again, high-stakes machines accounted for the bulk of the 5.1% climb to $409.3m in slot machine revenue. On the other hand, a whopping $276.9 million, an increase of 28.2%, came from multi-denomination slots.

With a 9.2% year-on-year increase, table, counter, and card games brought in $256.8 million. With $81.7m, an increase of 10.2%, blackjack was the highest-grossing game, slightly ahead of baccarat with $76.7m, an increase of 11.6%.

In April, the Strip's sports betting revenue dropped 26.5% to $9.7 million.

Is there anything else going on in Nevada?
From a broader perspective, the Nevada market has witnessed some significant changes throughout the past few weeks.

The London-listed Entain received full permission to do business in Nevada earlier this month. In the United States, the operator is presently affiliated with MGM Resorts through its joint venture, BetMGM.

The most recent three-year licensing that Entain was operating under ended in May, following two two-year ones. The Nevada Gaming Commission was worried about the company's activities in unregulated marketplaces, which led to the temporary licenses. 

Full approval, however, indicates that the Commission thinks this is now history.

At the same time, three casino resorts in Nevada and South Dakota were purchased for $105 million by Gaming and Leisure Properties (GLPI).

The Nevada realty holdings of Baldini's Casino were purchased by GLPI. Baldini's has over 492 slot machines spread across over nine acres.

Also in South Dakota, it holds the Deadwood Mountain Grand casino and the Silverado Franklin Hotel & Gaming Complex under its control.