The sports betting handle in Nevada is expected to boom in September as college football and pro football return.
Sports betting GGR was $25.3M on a handle of $408M for the month. Construction for the 531-room casino resort began in July and is expected to finish in late 2024. Las Vegas slot machine win was up 7.6% to $420M, while table, counter, and card game win jumped 18% to $414M off a very strong baccarat table hold rate of 23.9%. Dream Las Vegas: The property near the Harry Reid International Airport is slated to include dining and nightlife venues, 12,000-square-feet of meeting and event space and a 20,000-square-foot casino, according to a news release. Casinos in Sparks saw the biggest jump in gaming win across the state, with a 20% pop to $17M. Meanwhile, Las Vegas local casinos saw a 6.1% increase during July to $247M and Reno casinos saw a 4.3% increase to $72M. The Las Vegas Strip GGR number was up 15% on a sequential basis from June. Las Vegas Strip casinos saw an 8.0% year-over-year increase in gaming win during the month to a record tally of $835M. The return of big conventions has also factored in. The solid demand in the Las Vegas region this year has taken some of the sting out of the argument that legalized online sports betting and brick-and-mortar gambling in new states would cut dramatically into Nevada casino traffic. The tally makes it the 29th month in a row that gaming win in the state has been over $1B. Nevada gaming win for July rose 6.7% from a year ago to $1.40B.
