The Nevada Gaming Control Board (NGCB) has released its latest monthly revenue report revealing that the state’s licensed gambling operators recorded $1.3 billion in gaming revenue for the month of May.
But sports wagers failed to hit the $1 billion mark for the fifth month in a row
May was the 15th consecutive month that overall gambling revenue in the state topped the $1 billion mark. The latest figures mark an increase of 16% compared to the previous month when gambling win came to $1.12 billion. However, it still fell just short of the $1.35 billion reported in March of this year.
Gambling at Las Vegas Strip casinos generated $731.5 million in revenue, a 23.27% increase on the previous month and 11.6% more than May 2021. It also marked the highest total ever recorded for the month of May. Strip casino revenue accounted for 56.26% of all gambling revenue in Nevada throughout the month.
Clark County, where the Strip is located, accounted for almost 87% of all gambling revenue as casinos and gambling operators in the county collected $1.13 billion up from the $960.4 million reported in the previous month.
Revenues from table, counter and card games increased by 10.4% year-on-year to $430 million. Meanwhile, slot machine revenues came to $870.1 million. This was $66 million higher than the previous month.
Sports betting dips once again
May saw sports betting in Nevada drop once again as it failed to hit the $1 billion in handle mark for the fourth month in a row. The state’s licensed sportsbooks reported accepting $562 million in wagers which was a drop of 3.5% from April’s $582.53 million. However, this was still an increase of 17.8% when compared to May 2021.
Despite a lower handle, revenues from sports betting came to almost $27 million in May, an increase of 6.4% from April when sportsbooks reported $25.37 million in revenue. Of that figure, $16.4 million was generated by mobile sportsbooks, and increase of 23.6%.
State taxes collected for all gaming activity during May came to $91.9 million, a 31.6% increase on the previous month, but a drop of almost $8 million on taxes collected during the same period in 2021.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.