The latest monthly revenue report from the Nevada Gaming Control Board (NGCB) has revealed that the state’s licensed gambling operators recorded over $1.12 billion in gaming revenue for the month of April.
A quiet April saw sports betting activity fall by 32.5%
April marked the 14th month in a row that casino and gambling operators in Nevada reported at least $1 billion in revenue for the month. The latest figures represent an increase of 8.57% when compared to April 2021 but a drop of 17% on the $1.35 billion reported for March.
Gambling on the Strip accounted for almost 52% of all revenue as casinos generated $593.4 million in revenue. This was almost 22.8% higher than April 2021, but a 20.4% drop on the previous month. Clark County, where the Strip is located, accounted for almost 95% of all gambling revenue as casinos and gambling operators in the county collected $960.4 million for the month.
April saw slot machines in the state generate $804.1 million from wagers totaling $11.8 billion. This represented a significant drop on the previous month’s all-time record of $903.1 million in slots revenue. However, revenues increased by 1.4% year-on-year.
Despite the overall drop in revenue, Las Vegas saw more visitors in April than the previous month with around 3.4 million tourist arrivals reported by the Las Vegas Convention and Visitors Authority. This was a 31.4% increase from the same period in 2021 and around 100,000 more visitors than in the previous month.
Sports betting drops sharply
April saw sports betting in Nevada fail to hit the $1 billion mark for the 3rd month in a row as sports betting activity dropped by 32.5% to just $582.5 million. However, this was a 27.1% increase year-on-year. Of that figure, almost 73% came through mobile sportsbooks as online operators reported accepting $424.9 million in wagers during the month. The sharp drop in activity is expected as April is traditionally a quiet month following March Madness and the NBA playoffs in the previous month.
Revenue from sports wagering came to $25.3 million, a drop of 31.3% month-on-month. Revenue was also down by 6.9% on the same period in 2012.
State taxes collected during April for all gaming activity came to $69.8 million a drop of 28.5% on the previous month and a 12.09% drop on the previous year.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.