Nevada records $1.32bn in March revenue
The Nevada Gaming Control Board has published Nevada’s March and Q1 figures, which show that for the third time in the last 12 months, total revenue is down on the year before.
The Nevada Gaming Control Board has posted its March revenue report, showing that the state made $1.32bn in total gaming revenue for March 2023.
Unsurprisingly, slots brought in the biggest share of Nevada’s March revenue: $906.4m. Furthermore, table and card games made $405.6m – representing a 10% drop overall.
Focusing on the Las Vegas Strip, revenue declined by 2.9%, totalling $724.6m.
Meanwhile, for the state as a whole, sportsbook earnings topped $43.9m – showing a 19% increase from March 2022 – with mobile wagering making up 64% of all sporting bets in Nevada. As a total of all bets won, sportsbooks comprised 5.3%, an increase of 1% annually.
Wells Fargo analyst, Daniel Polizer, commented on the figures in Nevada, stating that, “March was a solid month in Las Vegas, and consistent with recent operator commentary that it could be among record months there.”
Though this is the 25th consecutive month that Nevada’s revenue has topped a billion dollars, the fact that the state has now recorded an annual decline for the third time in 12 months brings with it a sense of trepidation.
Recently, Macau, the resurgent Chinese gambling hub, saw a 33% rise in gross gaming revenue (GGR) for February – totalling MOP$10.32bn (US$1.27bn).
Though this number is lower than Nevada’s as a whole, Macau is “poised for growth” in 2023, according to a report by CasinoReviews.net, as the region recovers from China’s zero-Covid policy – which was brought to an end by the Chinese Government late last year following rare widespread protests by the Chinese citizens.
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