Nevada Gambling Results Drop in November
Nevada gambling results for the month of November saw a decline, despite the strong performance from the sports betting sector. Sportsbooks in the state managed to get a record total handle.
Gambling revenue dropped 3.1 percent. It is the second month in a row that the state lost GGR. The decline affected the Las Vegas Strip as its revenue fell to $518 million out of the total $937 million from players.
Out of the regions in Nevada, South Lake Tahoe saw the worst drop of 19 percent to $14 million. Reno slightly reduced 1.3 percent to $50 million. However, the city has always been a haven for people who want to escape the hectic life in the nation’s gambling capital.
Disappointing Nevada Gambling Results
Despite the bad news, there are areas where gambling revenue improved in November. According to pay per head sources, Southern Nevada grew its gambling revenue, even for just a couple of percentage.
Also, Nevada sports fans wagered $6.1 million on basketball and football in November. It enjoyed a 5.5 percent overall improvement and set a record. The second-best record by sportsbooks in the state was $598 million achieved last March. Sportsbook pay per head providers said it was due to March Madness.
In the first eleven months of 2019, sports betting handles totaled to $4.7 billion. It was an increase of 6.7 percent, according to sports betting software reports.
However, sports betting remained the only bright spot in the gambling revenue report. Other sectors dropped, including baccarat and table games. According to the best pay per head provider, baccarat revenue dropped at 22.7 percent to $77.5 million. Baccarat total handles fallen 30.8 percent to $557 million. Table games slight decreased by 3.5 percent.
Slot machines managed to improve by 1.3 percent. It showed that it remains a good source of income despite the rise of sports betting in the state.