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NEWS 1 May 2018

Nevada's billion dollar revenue streak continues

By Robert Simmons

Revenues from casinos operating in the US State of Nevada surpassed $1bn in revenue generated during March, marking the third consecutive month of billion dollar revenues and the longest revenue streak seen since 2008.

In a report released late on Monday, the Nevada Gaming Control Board confirmed state wide revenue from casinos rose by 3.4% year-over-year, topping $1.03bn.

Drilling down into these record revenues, baccarat proved to be the big draw, with winnings increasing by 110.6% year-on-year to $117.2m during March.

Game and table winnings, which includes baccarat rose by 13.5% during March, topping $381m. The volume of money staked on baccarat increased sharply during March, rising 44.8% year-on-year to $835.8m.

Indeed, it was card and table games that sustained the states revenue streak, with slots gaming win dropping by 1.85% to $643.2m during March.

The March Madness basketball tournament proved to be a lucrative one for Nevada, with over $305.5m being bet on the tournament alone during March. 

Overall basketball bets placed during March topped a record $436.5m, more than doubling the record bets received in the state during the Super Bowl in February, which amounted to $158.6m.

Nevada sports book operators won over $38m on basketball bets during March, a decrease of 7.88% on the record $41.2m haul the bookies had from Nevada bettors during the same period of 2017.

RELATED TAGS: Online | Land-Based | Industry | Sports Betting | Poker | Casino
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