Nevada Casino Revenue Tops $1 Billion as Sports Handle Reaches New Heights

Nevada’s Gaming Control Board has revealed figures for the state’s financial results in regards to gambling and iGaming in the month of February.

The total gaming income has managed to once again exceed $1 billion according to a report published last week. Likewise, for the second consecutive month…

…Nevada’s sports betting handle has broken a new barrier and set a record!

A Slight Fall Without Big Consequences

The board’s Win Revenue Summary For February 2019 reveals that casinos in Nevada collected a total revenue that was 0.62% smaller than January’s $1.012 billion.

Clark County’s profits were in the plus, with $892.7 million which is a 0.44% rise…

…however, the Strip’s revenue declined 1.95% to $591.7 million. The day was saved by downtown Las Vegas whose revenue was 9% bigger than in January and managed to rake in $58 million!

Slots Doing Well as Baccarat Stumbles

The board’s senior research analyst for the istration division, Michael Lawton, believes that one of the main contributors to a slightly worse performance in casinos in Nevada was a significant 25% drop in baccarat wins…

…which amounted to $45.2 million. He said that baccarat has been showing signs of slowing down in seven of the last eight months, but is more a result of a poor hold because volumes themselves have only dropped one percent.

On the other hand, some 135,000 slot machines in Nevada are doing more than well: February’s total win on these was $608.3 million. Table games contributed a lot less – $403.2 million, which is a 2.2% year-on-year drop.

It’s the sixth consecutive month during which slots had the supremacy over table games in Nevada.

Sports Fans Giving it Their All

However, the undisputed winner in of rising revenue and wagers placed is the sports betting vertical.

Nevada’s sports wagering handle records don’t last long: January’s all-time high has been obliterated by February’s results, which saw a $458.6 million in monthly handle. That’s a remarkable 235% improvement over the same period last year!

This year’s addition of Super Bowl amounted to a higher sportsbook win than last year’s and basketball was also performing well.

Legal Sports Report lists all the sports available for betting in the state. Those are:

• NFL
• College football
• Canadian football
• Australian Rules football
• Rugby
• NBA
• College basketball
• Baseball – MLB, some college, and international competitions
• Hockey – NHL, some international competitions
• Soccer – MLS, International matches, and competitions, some USL
• Fighting – boxing, mixed martial arts
• Auto racing – NASCAR, Indy, Formula One and more
• Cycling
• Tennis
• Golf
• Esports
• Horse and virtual horse racing

Comments Lawton on Nevada’s total gaming win

“All things considered, whenever we record a billion dollars in gaming win we are very pleased, although for this month, that still resulted in a very small decrease statewide.”

Source:

“Win Revenue Summary – February 2019”, gaming.nv.gov, March 28, 2019.