Nevada casino revenue down 99.4 percent in May

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n accordance with data released Tuesday by the Nevada Gaming Control Board, casino revenues in the state have been devastated for two months in a row due to the coronavirus-related closures.

The Silver State’s statewide total win of $5.8 million in May 2020 represents a year-over-year drop of 99.41%.

That’s an improvement following an April that generated $3.6 million, but last month’s total is a far cry from last May, when casinos took in $981,766,859.

Las Vegas casinos pulled in $3,769,618 – a 99.27% dive from last year’s $517,347,625.

Other parts of the state fared worse: Reno casinos paid out $84,460. Last May, they won $55,115,773.

For the entire year, Nevada’s gambling revenue is down 45.2% statewide and 44.8% on the Las Vegas Strip.

But if casinos were closed for the entire month, where did revenue come from?

“Mobile sports wagering and interactive poker,” Nevada Gaming Control analyst Michael Lawton said.

Las Vegas visitation plummets

Visitor volume plunged 95.5% year-over-year in May, according to data released Tuesday by the Las Vegas Convention and Visitors Authority.

In May 2019, 3.7 million people visited Las Vegas. This May, 151,300 showed up.

Total occupancy of Las Vegas’ 148,755 available rooms dropped from 91% percent filled to just 2.8% – a decline of 88%.

The average daily room rate decreased from $140.52 to $60.70 year-over-year. Revenue per available room dropped from $127.59 to $1.70. Like April, May saw no measurable convention attendance.

Nevada’s casinos reopened June 4 under new restrictions, including reduced occupancy, more space between gamblers, and severely curtailed limits for meeting and convention spaces.

+ See the Nevada Gaming Control Board’s report 

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