The Nevada Gaming Control Board (NGCB) has released its latest monthly revenue report revealing that Nevada’s casinos reported the highest revenue total ever recorded in the month of February marking the second month in a row that the all-time monthly record was broken.
According to the report, the state’s casinos generated combined revenues of $1.24 billion during February. This marks an 11.15% increase from February 2022 and the 24th month in a row that gambling operators have generated more than a $1 billion in revenues.
Revenues on the Strip came to $712.5 million, an 18.9% increase from February 2022, but down slightly from the previous month.
Casinos on the Strip also accounted for the majority of January’s increase in revenues as Clark County reported a revenue total of almost $1.08 billion. This made February the tenth month in a row that Clark County casinos generated more than $1 billion. .
Downtown Las Vegas generated $74.3 million in gaming revenue up by 7.49% from February 2022. Areas outside of Clark County combined to generate revenues of $265.7 million. This was a drop of 4.6% from the $278.6 million reported in the same period in 2022.
Strip casinos reported baccarat revenues of $102.5 million, up by 62.7%, from wagers of $696.8 million which were up by 18.6%.
The state collected more than $75.5 million in gaming taxes. For fiscal year 2023, the total tax collected is up by almost 1.6% to $722.5 million.
Sports betting revenues up, wagering down
Nevada’s sportsbooks generated combined revenues of $43.1 million, an increase of 33.5% from February 2022. This was despite total wagers dropping by 15.6% to $659.4 million.
Nevada sports betting operators reported a hold of 6.5% of all wagers. According to the report, mobile sports betting accounted for 61% of all wagers in January.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.