Statewide Nevada Table Mix
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1 Statewide Nevada Table Mix The Evolution of Casino Games, An Examination of Shifting Unit and Revenue Trends Contents Executive Summary 1 Methodology, Definitions 2 Unit Share 3 Revenue Share 5 Raw Data 7 Executive Summary Over the past twenty-five years, there has been a considerable realignment of aggregate table game mix in Nevada. Twenty-One (blackjack) has declined in both terms of units and revenue. In 1985, 81% of casino games were blackjack. In 2015, just over 55% were. In 1985, the game accounted for over half of all table game revenues: in 2013, it accounted for 27% of table win. Craps has declined remarkably as a money-maker for casinos. In 1985, it generated nearly 27% of all table win. In 2015, it contributed less than 9% to total table win. Roulette has increased both its revenue share and unit share by about 50% Baccarat has spectacularly increased its win share in the past several years, out earning blackjack since Its unit share has grown proportionately with its revenue gain. Other games, including mini-baccarat, three card poker, and pai gow poker, have increased both their revenue share and their unit share. These changes have impacted the ways that casinos operate, and should be taken into consideration by both students of casino management and those interested in monitoring casino financial performance over both the short and long terms. The increased reliance on baccarat, a more volatile game, has led to greater variance in reported field results for both individual properties and the Strip as a whole. University Libraries University of Nevada, Las Vegas 1
2 Methodology This study looks at how well various table games have fared in Nevada over the past twenty-five years. Essentially, it answers the question: how have table game pits in Nevada changed? To do this, we first tabulated data on the total number of units and revenue for each of the casino games listed by the Nevada Gaming Control Board in its monthly Gaming Revenue Report. We also included Other Games, which are those with six or fewer units in the reporting area in question. While bingo, keno, the race book, and the sports book are classified as games by the Gaming Control Board, we did not include them in this study, since we wanted to get a clear picture of table games. For 1992 to 2015, we used the annual totals as given in the December Gaming Revenue report for the year in question. The period proved to be less straightforward: the reports in that period do not generally include annual totals, so we reconstructed the annual amounts, by using quarterly and sometimes monthly reports to build the appropriate sums (revenues) and averages (units). Instead of including all games in the unit- and revenue-share analyses, we chose to focus on the Big Four casino games: twenty-one (blackjack), craps, baccarat, and roulette. All other table games are classed as Others. The data for all game reported by the Gaming Control Board can be found in the Raw Data section, which begins on page 8. With data in hand, we created two tables: one charting the revenue share per game, the other mapping the unit share per game. These show how the percentage of money earned by each game, and the floor space devoted to each game, has changed over the past quarter century. All interpretation of the data is ours, and though it is based on the data set, involves a degree of subjective analysis. Definitions All data is taken from all non-restricted locations, Clark County: Nevada Statewide reporting area, as reported in the Nevada State Gaming Control Board s Gaming Revenue Report. Units: Total number of table games for the period in question Revenue: Reported win for the game during the period in question % Units: The unit share of the game in question, expressed as a percentage of the total table game inventory for that period % Revenue: The revenue share of the game in question, expressed as a percentage of the total table game revenue for that period Unit Share: The percentage of total table game units reported for the game in question Revenue Share: The percentage of total table game revenue reported for the game in question University Libraries University of Nevada, Las Vegas 2
3 Unit Share The real estate of Nevada's table gaming pits has shifted remarkably over the past twenty-five years. As the chart below demonstrates, the percentage of gaming pits devoted to blackjack has declined steadily, while that devoted to other games like pai gow, pai gow poker, mini baccarat, and poker-based games has increased. Figure 1: Unit Share by Game 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% Bacc 21 Craps Roulette Others 20.00% 10.00% 0.00% University Libraries University of Nevada, Las Vegas 3
4 Table One: Unit Share by Game, Year Bacc 21 Craps Roulette Others % 80.66% 9.71% 5.84% 2.26% % 80.58% 9.55% 5.90% 2.26% % 80.29% 9.52% 5.82% 2.58% % 77.25% 9.36% 5.79% 5.54% % 77.16% 9.38% 6.30% 5.85% % 76.05% 9.32% 6.60% 6.65% % 75.85% 9.27% 6.69% 6.92% % 73.57% 9.12% 6.91% 9.08% % 71.07% 8.82% 7.00% 11.76% % 69.61% 8.69% 7.23% 13.09% % 67.58% 8.60% 7.49% 14.91% % 66.89% 8.67% 7.64% 15.25% % 66.46% 8.71% 7.82% 15.43% % 65.67% 8.80% 7.99% 15.81% % 65.45% 8.66% 8.26% 15.73% % 64.44% 8.58% 8.17% 16.98% % 63.30% 8.43% 8.22% 18.16% % 63.52% 8.40% 8.29% 18.01% % 62.72% 8.24% 8.30% 19.06% % 61.81% 8.02% 8.46% 19.74% % 61.10% 7.86% 8.40% 20.44% % 59.58% 7.57% 8.54% 21.66% % 58.80% 7.54% 8.59% 22.03% % 57.72% 7.51% 8.74% 22.35% % 56.76% 7.64% 9.06% 22.28% % 56.27% 7.79% 9.17% 21.79% % 55.61% 7.88% 9.27% 22.10% % 55.16% 7.85% 9.24% 22.15% % 55.02% 7.85% 9.05% 21.93% % 54.90% 7.65% 9.12% 21.73% % 55.12% 7.69% 9.14% 20.73% University Libraries University of Nevada, Las Vegas 4
5 Revenue Share The amount of floor space devoted to a game, however, is only one piece of the total puzzle. Games are only as useful as the amount of revenue they produce. For that reason, the revenue share per game, defined as the percentage of total table game revenues earned by a type of game, is a key metric in analyzing the importance of various games to overall casino performance. Figure Two: Revenue Share by Game, % 50.00% 40.00% 30.00% 20.00% Bacc 21 Craps Roulette Others 10.00% 0.00% University Libraries University of Nevada, Las Vegas 5
6 Table Two: Revenue Share by Game, Year Bacc 21 Craps Roulette Others % 56.26% 26.83% 5.91% 1.50% % 56.35% 27.04% 6.00% 1.33% % 55.07% 25.79% 6.61% 1.57% % 50.70% 23.51% 6.54% 2.43% % 51.73% 21.93% 6.80% 4.11% % 46.76% 20.82% 6.29% 4.65% % 47.40% 20.88% 6.88% 5.36% % 48.05% 20.95% 7.59% 7.26% % 47.03% 18.66% 7.33% 9.18% % 41.85% 16.92% 8.34% 11.36% % 38.77% 15.92% 7.61% 12.63% % 40.48% 16.12% 8.78% 14.67% % 39.89% 15.18% 8.09% 14.77% % 40.35% 16.78% 9.17% 15.30% % 39.60% 15.84% 9.63% 15.63% % 38.62% 16.17% 9.42% 17.97% % 39.56% 15.96% 9.34% 20.04% % 38.84% 15.09% 9.27% 22.02% % 39.97% 14.98% 9.48% 22.50% % 38.71% 14.25% 9.31% 21.63% % 36.10% 13.70% 9.37% 21.52% % 36.27% 12.16% 9.11% 20.51% % 36.31% 12.22% 9.59% 18.67% % 36.46% 13.02% 9.77% 18.31% % 31.75% 11.11% 9.56% 16.79% % 28.85% 11.40% 9.13% 15.50% % 29.07% 11.00% 9.00% 15.80% % 26.96% 10.43% 9.96% 15.42% % 27.51% 9.14% 8.77% 14.39% % 27.77% 9.60% 9.12% 14.45% % 29.85% 10.41% 8.77% 15.21% University Libraries University of Nevada, Las Vegas 6
7 Raw Data Table Game Mix, Statewide, Twenty-One 2,672 1,097, % 29.85% Craps , % 10.41% Roulette , % 8.77% 3-Card Poker , % 4.06% Baccarat 331 1,290, % 35.08% Mini-Baccarat , % 2.74% Let It Ride 84 37, % 1.01% Pai Gow 24 15, % 0.43% Pai Gow Poker , % 2.82% Other Games , % 4.83% Total 4,848 3,677, % % 2014 Twenty-One 2,726 1,066, % 27.77% Craps , % 9.60% Roulette , % 9.01% 3-Card Poker , % 3.80% Baccarat 327 1,504, % 39.18% Mini-Baccarat , % 2.33% Let It Ride 89 39, % 1.02% Pai Gow 25 15, % 0.41% Pai Gow Poker , % 2.76% Other Games , % 4.12% Total 4,965 3,840, % %
8 2013 Twenty-One 2,707 1,073, % 27.76% Craps , % 9.32% Roulette , % 10.28% 3-Card Poker , % 4.06% Baccarat 296 1,463, % 37.85% Mini-Baccarat , % 2.60% Let It Ride 94 41, % 1.08% Pai Gow 36 17, % 0.44% Pai Gow Poker , % 2.74% Other Games , % 3.87% Total 4,921 3,867, % % 2012 Twenty-One 2, , % 27.21% Craps , % 10.55% Roulette , % 8.89% 3-Card Poker , % 4.32% Baccarat 271 1,382, % 37.87% Mini-Baccarat , % 2.36% Let It Ride 99 45, % 1.24% Pai Gow 41 18, % 0.50% Pai Gow Poker , % 2.92% Other Games , % 4.13% Total 4,984 3,650, % %
9 2011 Twenty-One 2,801 1,044, % 29.07% Craps , % 11.00% Roulette , % 9.00% 3-Card Poker , % 4.35% Baccarat 259 1,262, % 35.13% Mini-Baccarat , % 2.50% Caribbean Stud 8 4, % 0.12% Let It Ride , % 1.31% Pai Gow 37 12, % 0.35% Pai Gow Poker , % 3.00% Other Games , % 4.17% Total 5,037 3,592, % % 2010 Twenty-One 2, , % 28.85% Craps , % 11.40% Roulette , % 9.13% 3-Card Poker , % 4.14% Baccarat 254 1,187, % 35.12% Mini-Baccarat , % 2.23% Caribbean Stud 11 6, % 0.18% Let It Ride , % 1.46% Pai Gow 42 21, % 0.64% Pai Gow Poker , % 3.04% Other Games , % 3.81% Total 5,095 3,381, % %
10 2009 Twenty-One 2,927 1,008, % 31.75% Craps , % 11.11% Roulette , % 9.56% 3-Card Poker , % 4.22% Baccarat , % 30.80% Mini-Baccarat , % 2.65% Caribbean Stud 16 8, % 0.27% Let It Ride , % 1.71% Pai Gow 40 17, % 0.56% Pai Gow Poker , % 3.38% Other Games , % 4.00% Total 5,157 3,176, % % 2008 Twenty-One 3,044 1,254, % 36.46% Craps , % 13.02% Roulette , % 9.77% 3-Card Poker , % 4.46% Baccarat , % 22.44% Mini-Baccarat , % 3.36% Caribbean Stud 21 11, % 0.34% Let It Ride , % 1.74% Pai Gow 50 24, % 0.71% Pai Gow Poker , % 3.64% Other Games , % 4.06% Total 5,293 3,442, % %
11 2007 Twenty-One 3,136 1,420, % 36.31% Craps , % 12.22% Roulette , % 9.59% 3-Card Poker , % 4.48% Baccarat , % 23.21% Mini-Baccarat , % 3.99% Caribbean Stud 22 14, % 0.36% Let It Ride , % 1.63% Pai Gow 54 28, % 0.74% Pai Gow Poker , % 3.61% Other Games , % 3.86% Total 5,333 3,911, % % 2006 Twenty-One 3,211 1,382, % 36.27% Craps , % 12.16% Roulette , % 9.11% 3-Card Poker , % 4.73% Baccarat , % 21.94% Mini-Baccarat , % 6.11% Caribbean Stud 31 18, % 0.50% Let It Ride , % 1.56% Pai Gow 63 34, % 0.89% Pai Gow Poker , % 3.37% Other Games , % 3.35% Total 5,389 3,809, % %
12 2005 Twenty-One 3,273 1,243, % 36.10% Craps , % 13.70% Roulette , % 9.37% 3-Card Poker , % 5.11% Baccarat , % 19.31% Mini-Baccarat , % 6.23% Caribbean Stud 48 30, % 0.90% Let It Ride , % 1.87% Pai Gow 44 27, % 0.79% Pai Gow Poker , % 4.02% Other Games , % 2.61% Total 5,357 3,445, % % 2004 Twenty-One 3,260 1,195, % 38.71% Craps , % 14.25% Roulette , % 9.31% 3-Card Poker , % 5.02% Baccarat , % 16.10% Mini-Baccarat , % 6.16% Caribbean Stud 62 38, % 1.23% Let It Ride , % 2.19% Pai Gow 45 24, % 0.80% Pai Gow Poker , % 4.18% Other Games , % 2.04% Total 5,274 3,087, % %
13 2003 Twenty-One 3,349 1,118, % 39.97% Craps , % 14.98% Roulette , % 9.48% 3-Card Poker , % 4.33% Baccarat , % 13.08% Mini-Baccarat , % 6.50% Caribbean Stud 77 40, % 1.46% Let It Ride , % 2.35% Pai Gow 42 24, % 0.86% Pai Gow Poker , % 4.37% Other Games , % 2.61% Total 5,340 2,797, % % 2002 Twenty-One 3,425 1,102, % 38.84% Craps , % 15.09% Roulette , % 9.27% 3-Card Poker , % 3.21% Baccarat , % 14.78% Mini-Baccarat , % 5.83% Caribbean Stud 82 43, % 1.53% Let It Ride , % 2.47% Pai Gow 42 26, % 0.93% Pai Gow Poker , % 4.17% Other Games , % 3.88% Total 5,392 2,838, % %
14 2001 Twenty-One 3,605 1,155, % 39.56% Craps , % 15.96% Roulette , % 9.34% Wheel of Fortune 50 10, % 0.36% Baccarat , % 15.11% Mini-Baccarat , % 6.62% Caribbean Stud 95 50, % 1.71% Let It Ride , % 2.52% Pai Gow 60 30, % 1.06% Pai Gow Poker , % 4.15% Other Games , % 3.60% Total 5,695 2,921, % % 2000 Twenty-One 3,862 1,174, % 38.64% Craps , % 16.17% Roulette , % 9.39% Wheel of Fortune 51 12, % 0.40% Baccarat , % 17.82% Mini-Baccarat , % 4.89% Caribbean Stud , % 1.90% Let It Ride , % 2.51% Pai Gow 53 33, % 1.12% Pai Gow Poker , % 3.85% Other Games , % 3.31% Total 5,894 3,039, % %
15 1999 Twenty-One 3,637 1,137, % 39.60% Craps , % 15.84% Roulette , % 9.63% Wheel of Fortune 48 10, % 0.38% Baccarat , % 19.29% Mini-Baccarat , % 4.89% Caribbean Stud , % 1.99% Let It Ride , % 2.38% Pai Gow 59 38, % 1.35% Pai Gow Poker , % 3.39% Other Games , % 1.25% Total 5,557 2,873, % %
16 1998 Twenty-One 3, , % 40.35% Craps , % 16.78% Roulette , % 9.17% Wheel of Fortune 42 8, % 0.35% Baccarat , % 18.41% Mini-Baccarat , % 4.73% Caribbean Stud , % 2.31% Let It Ride , % 2.37% Pai Gow 68 38, % 1.56% Pai Gow Poker , % 3.13% Other Games , % 0.84% Total 5,295 2,468, % % 1997 Twenty-One 3,527 1,020, % 38.75% Craps , % 14.75% Roulette , % 7.86% Wheel of Fortune 47 9, % 0.36% Baccarat , % 21.44% Mini-Baccarat , % 3.86% Caribbean Stud , % 2.42% Let It Ride , % 2.36% Pai Gow 52 50, % 1.91% Pai Gow Poker , % 2.75% Other Games , % 3.55% Total 5,307 2,633, % %
17 1996 Twenty-One 3, , % 40.47% Craps , % 16.12% Roulette , % 8.78% Wheel of Fortune 56 10, % 0.43% Baccarat , % 19.94% Mini-Baccarat 80 86, % 3.61% Caribbean Stud , % 3.01% Let It Ride , % 3.08% Pai Gow 46 33, % 1.41% Pai Gow Poker , % 2.71% Red Dog % 0.03% Other Games 66 10, % 0.42% Total 5,265 2,409, % % 1995 Twenty-One 3, , % 38.76% Craps , % 15.92% Roulette , % 7.60% Wheel of Fortune 62 10, % 0.43% Baccarat , % 25.05% Mini-Baccarat 63 65, % 2.62% Caribbean Stud , % 3.24% Let It Ride , % 2.22% Pai Gow 31 37, % 1.51% Pai Gow Poker , % 2.29% Red Dog % 0.04% Other Games 77 7, % 0.32% Total 5,090 2,485, % %
18 1994 Twenty-One 3, , % 41.85% Craps , % 16.92% Roulette , % 8.34% Wheel of Fortune 59 12, % 0.56% Baccarat , % 21.53% Mini-Baccarat 56 44, % 1.95% Pai Gow 28 35, % 1.56% Pai Gow Poker , % 2.26% Red Dog 11 1, % 0.07% Other Games , % 4.96% Total 4,866 2,282, % % 1993 Twenty-One 3, , % 47.03% Craps , % 18.66% Roulette , % 7.33% Wheel of Fortune 61 10, % 0.56% Baccarat , % 17.80% Mini-Baccarat 50 29, % 1.50% Pai Gow 37 27, % 1.42% Pai Gow Poker , % 2.31% Red Dog 22 2, % 0.14% Other Games , % 3.24% Total 4,787 1,940, % %
19 1992 Twenty-One 3, , % 48.05% Craps , % 20.95% Roulette , % 7.59% Wheel of Fortune 60 10, % 0.59% Baccarat , % 16.16% Mini-Baccarat 49 32, % 1.81% Pai Gow 38 24, % 1.35% Pai Gow Poker , % 2.30% Red Dog 22 4, % 0.22% Other Games 76 17, % 0.98% Total 4,472 1,802, % % 1991 Twenty-One 3, , % 47.40% Craps , % 20.88% Roulette , % 6.88% Wheel of Fortune 55 8, % 0.58% Baccarat , % 19.48% Mini-Baccarat 35 15, % 1.09% Pai Gow 35 16, % 1.19% Pai Gow Poker , % 1.93% Red Dog 20 2, % 0.20% Other Games 31 5, % 0.36% Total 4,498 1,381, % % 1990 Twenty-One 3, , % 46.76% Craps , % 20.82% Roulette , % 6.29% Wheel of Fortune 59 11, % 0.59% Baccarat , % 21.47% Mini-Baccarat 30 16, % 0.81% Pai Gow 41 21, % 1.11% Pai Gow Poker , % 1.54% Red Dog 25 4, % 0.23% Other Games 29 7, % 0.37% Total ,971, % % 1989
20 Twenty-One 3, , % 51.73% Craps , % 21.93% Roulette , % 6.80% Wheel of Fortune 51 12, % 0.78% Baccarat , % 15.43% Mini-Baccarat 23 10, % 0.61% Pai Gow 35 12, % 0.77% Pai Gow Poker 88 20, % 1.26% Red Dog 28 5, % 0.35% Other Games 21 5, % 0.35% Total 4,202 1,633, % % 1988 Twenty-One 3, , % 50.70% Craps , % 23.51% Roulette , % 6.54% Wheel of Fortune 64 9, % 0.61% Baccarat , % 16.81% Pai Gow 47 11, % 0.74% Other Games , % 1.08% Total 4,404 1,601, % % 1987 Twenty-One 3, , % 55.07% Craps , % 25.79% Roulette , % 6.61% Wheel of Fortune 55 6, % 0.72% Baccarat , % 10.97% Pai Gow 21 6, % 0.62% Other Games 28 2, % 0.22% Total 4, , % %
21 1986 Twenty-One 3, , % 56.35% Craps , % 27.04% Roulette , % 6.00% Wheel of Fortune 55 8, % 0.72% Baccarat , % 9.28% Pai Gow 18 5, % 0.47% Other Games , % 1.08% Total 4,404 1,601, % % 1985 Twenty-One 3, , % 56.26% Craps , % 26.83% Roulette , % 5.91% Wheel of Fortune 56 9, % 0.70% Baccarat , % 9.50% Pai Gow 16 6, % 0.49% Other Games 13 3, % 0.31% Total 3,780 1,280, % % For more information, please visit Preferred citation: David G. Schwartz and Courtney Nickson. Nevada Statewide Table Game Mix: The Evolution of Casino Games, Las Vegas: Center for Gaming Research, University Libraries, University of Nevada Las Vegas, 2016.
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