Nevada Blackjack Market Continues To Contract

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Nevada’s overall casino gambling market is growing, but blackjack, historically one of the most lucrative offerings for the casinos, is down over the past year.

According to figures released by state gaming regulators, Nevada’s 2,500 blackjack tables generated $1.15 billion in revenue during the 12 months prior to April 1, 2018. That was down 2.5 percent compared to the same period a year prior, and it came despite a relatively high hold of 14.2 percent during the period. March 2018 blackjack revenue of $95.22 million was a steep 15.5 percent year-over-year decline. Blackjack revenue over the three months prior to April was down 14.8 percent. The start to this year hasn’t been kind to the game.

Statewide blackjack win in calendar year 2017 was $1.2 billion, an increase of 5.4 percent compared to 2016. In other words, blackjack has been hit hard over the last handful of months. The Nevada record for blackjack revenue came in 2007, when the casinos took in $1.42 billion from the game. It’s worth noting that Nevada has shed about 600 blackjack tables since 2007.

Also since 2007, Nevada blackjack win has fallen in five of the years, while growing in the other five. It fell to a low of $975 million in 2010, before inching back up.

While blackjack is going through a rough stretch, offerings such as baccarat and sports betting have both been experiencing double digit growth to start 2018.

Nevada gaming revenue of $1.02 billion during March was a 3.3 percent gain year-over-year, which brought the revenue over the prior 12 months to $11.65 billion, up 2.3 percent from a year prior.

Of course, it’s the slot machines, which account for about 64 percent of Nevada’s overall casino gambling market, that predominantly determine the industry’s fortunes. Slot revenue was up nearly two percent to start 2018 and more than three percent over the prior to 12 months.