Nevada’s casinos make a return, but revenue stays in the dumps
Revenue is down almost 50% compared to last year
Amid the effects of the coronavirus pandemic, the gambling venues are doing their best to start recovering from nearly three months of no business. Even though casinos in Nevada received the green light to get back to business as of June 4, the process of recovering from the pandemic will take some time. Nevada’s revenue soared from May to June; however, the total handle is nothing compared to what the previous two years have collected.
On Wednesday, the Nevada Gaming Control Board (NGCB) released the state’s number for revenue generated by casinos and June reports a 45.5% year-on-year fall.
The fact that casinos are open is not enough for operators to return to normal. Amid the pandemic, several things changed, and they all impacted the way casinos operate. The venues’ capacity has been restricted to less than 50% and, while the pandemic is still hitting strong in a few countries, Nevada is depending on drive-in visitors as opposed to all the international visitors who flocked to one of the most popular gambling destinations in the world – people are not yet getting on planes to take a vacation.
Revenue coming from casinos was significantly lower; for instance, Las Vegas Strip casinos reported a 61.4% decrease and Downtown Vegas fell 55.6%. Other regions in the Silver State reported less scary declines, such as Washoe County, where Reno’s revenue decreased by only 8.5% and Sparks only fell 2.3%. Now, the hopes are placed on July, as the operators expect that the market rebounds significantly as more out of state travel is expected.