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Nevada iGaming Revenues Drop 6.7% in September

Online poker continues to slide in Nevada, dropping to its lowest point since regulators started releasing earnings. Also, overall state revenues continue to slide, down for the second straight month.

On Tuesday, the Nevada Gaming Control Board released their September earnings report. Online poker continued its post-WSOP slide, while losses on the Las Vegas Strip fueled a 2.1% drop in overall industry revenue.

Online Poker Drops 6.7% in September

The online poker industry in Nevada continues its post-WSOP slide, dropping 6.7% in September to $693,000. This was Nevada iPoker’s worst month since the GCB started releasing figures earlier this year. Worse still, Nevada iPoker saw a drop of 8.9% year-over-year.

Nevada online poker sites saw tremendous growth during the World Series of Poker, eclipsing the $1 million mark for June. Since that time, revenue has dropped over 30% as seasonal players returned home.

Looking deeper at the numbers, online poker showed a slight uptick in year-over-year comparisons for the last quarter. From July through September, Nevada iGaming has pulled in $2.39 million, up $3.79. Since October 2013, Nevada online poker has collected $11 million in online win.

Overall Industry Down for Second Straight Month

Gambling win for the entire state saw a decline for the second straight month. Nevada casinos collected $901.7 million in win in September compared to $920.2 million in August. Overall win was down six percent year-over-year from $958.9 million.

Strip gaming took the biggest hit, dropping from $563.1 million in 2013 to $494.8 million in 2014. Despite a decline over the last two months, overall gaming win is still slightly up over the last 12 months. Nevada has pulled in $11.14 million in win in the last 12 months, up 1.39%.

 

 

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James Guill

James Guill began his poker career in 2006, spending two years traveling the US tournament circuit. Since 2008, he has covered the game extensively for some of the biggest names in the industry. When not writing about the latest poker news, he can be found hunting for antique treasures in Central Virginia.

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