GAMING REVENUE IN NEVADA AND SPAIN ON THE RISE
Viktor Vangelov | Published 1 Sep 2019, 10:09 p.m.
Even though certain countries are introducing more restrictive laws and regulations regarding gambling, there are many countries and states where gambling is on the rise and expected to grow even further.
Online gambling is particularly on the rise. A month ago we reported that the global sports betting market will reach $155 billion in 5 years. Most of the growth is due to the developments in the online sector of the industry. However, in many parts of the world, the land-based sector is not showing signs of stopping, especially if there are limits on land-based gambling.
Today, we’re going to look at two particular examples and, in both cases, we’re seeing an increase in gaming revenue. The cases in question are Nevada and Spain. In Nevada, it is land-based traditional casino gambling, whereas in Spain, it is online gambling that’s on the rise.
Nevada Casino Revenue Exceeds $1 Billion In July
The total casino revenue in the most gambling US state amounted to $1.02 billion for July, which is a 3% increase compared to July 2018. This figure has been reported by the state’s Gaming Control Board, so there are no doubts when it comes to accuracy.
As you know, Nevada has two major gaming centres – Las Vegas, also called Las Vegas Strip and Reno. In fact, more than half of the total revenue comes from Las Vegas casinos, or in this particular case the revenue amounted to $541.8 million, which is a 2% increase compared to last July. The Reno revenue also grew by 2% to $53.7 million.
It is interesting to note that the Baccarat revenue suffered a serious decree, of a total of 24% and amounted to just above $77 million. On the other hand, the slot revenue has grown by 4%, and that is more significant than it seems, seen that the total slot machine revenue amounted to $695.9 million.
Sports betting in Nevada also saw more than significant growth, as it amounted to $10.5 million, which is a growth of 154%. Still, while sports betting is growing in Nevada, the real growth of this branch is in New Jersey. The reason for this is that New Jersey allows remote betting.
Online Gaming Revenue In Spain Grows By 7%
The second quarter of 2019 is pretty successful for the online gambling sector in Spain. The gross gaming revenue is 8% higher compared to the first quarter, but if we compare it to the second quarter of 2018, the growth is 8%.
The growth has been most significant in the casino sector of the online gambling industry. The revenue amounted to €69m which only 4% more compared to the first quarter, but 22% compared to the second quarter of 2018. Companies have spent a bit more on marketing, a total of €82.5m, but the increase is just 1%. With a total of 38 licenced online casino operators, this sector amounts to just below 39% of the total sector.