This represents the 12th straight month that Nevada’s casinos have hit the $1bn winnings mark, and a 44% increase in total winnings from the prior-year period.
What’s more, February’s 2022 numbers are a record for the state of Nevada and have topped the total winnings for January, despite the month consisting of only 28 days.
These figures are attributed to bets placed on sporting events such as the Super Bowl and a high number of concert performances in Las Vegas during February.
Despite this significant financial momentum, however, Control Board Research Analyst Michael Lawton believes future takings will inevitably slump.
Lawton cites rising petrol costs, inflation caused by the aftereffects of Covid-19 and the war in Europe as factors likely to detriment future winnings for Nevada.
He says: “Our comparisons are going to become extremely difficult in the upcoming months and we are optimistic that this level of gaming win will continue.
“However, as you are aware there is a great deal of macro-economic and geopolitical events that are happening in real-time, which are concerning and it is unknown how it could impact the trends we have been witnessing for the past year.”
There is hope for a strong March, at least, with MGM Resorts’ Director of Trading, Jeff Stonebeck, confident of high sports betting numbers for the NCAA College Basketball Tournament, aka March Madness.
Stonebeck said: “We get the same people who come out every single year for it.
"It’s an annual ritual for a group that will get four, five, or six guys who come out every year. A lot of people don’t pay attention to college basketball until the tournament.”
