The Nevada Gaming Control Board (NGCB) has released its latest monthly revenue report revealing that the state’s casinos reported combined revenues of $1.3 billion during the month of October.
October marks 32nd billion-dollar month in a row
According to the report, combined revenues generated by NV casinos during the month mark an increase of 2.69% year-on-year and a 3.14% increase on the $1.27 billion reported during September. The latest total was also 42.4% higher than the same month in 2019 before the global pandemic. This means that the state has now reported more than a billion dollars in revenue for the 32nd month in a row.
Revenues on the Strip came to $714.4 million, an increase of 1.23% on the same period in 2022 and a decrease of 3.6% on the $741.2 million reported in the previous month.
According to the report, statewide slots revenue came to $894.8 million up by 2% year-on-year while table gaming increased by 4.17% to $420.2 million.
Gaming revenues for the first ten months of 2023 is up 3.5% year-on-year putting the state on track to beat last year’s record revenue total of $14.8 billion for the calendar year. Strip revenue is up by 5.4% for the same period.
Taxes collect during the reporting period came to $83.1 million marking an increase of 8.72% year-on-year.
Sports betting
Nevada sports betting operators reported $68.1 million in revenue during October, representing an increase of 19.9% compared to October 2022. This was the third highest revenue figure in the post-PASPA era and a 9.5% increase over the previous month. Overall wagers grew from $811.1 million in September to $815.6 million in October.
Bets placed through mobile apps and online sportsbooks accounted for 65.8% of all sports wagers during the month.
Year-to-Date Sports Handle, Revenues & Taxes in Nevada
| Period | Total Handle | Mobile Handle | Mobile Handle % | Sportsbook Revenue | Win % | State Taxes |
|---|---|---|---|---|---|---|
| Jan 2023 | $935,788,497 | $581,606,557 | 62.15% | $50,439,000 | 5.39% | $3,404,633 |
| Feb 2023 | $659,361,022 | $402,276,029 | 61.01% | $41,276,000 | 6.26% | $2,786,130 |
| Mar 2023 | $830,511,364 | $530,228,690 | 63.84% | $43,851,000 | 5.28% | $2,959,943 |
| Apr 2023 | $598,044,280 | $395,191,489 | 66.08% | $32,414,000 | 5.42% | $2,187,945 |
| May 2023 | $527,438,596 | $358,114,754 | 67.90% | $30,064,000 | 5.70% | $2,029,320 |
| Jun 2023 | $479,949,495 | $323,959,732 | 67.50% | $9,503,000 | 1.98% | $641,453 |
| Jul 2023 | $407,996,769 | $268,174,757 | 65.73% | $25,255,000 | 6.19% | $1,704,713 |
| Aug 2023 | $431,002,381 | $316,762,590 | 73.49% | $18,102,000 | 4.20% | $1,221,885 |
| Sep 2023 | $811,158,854 | $539,217,877 | 66.47% | $62,297,000 | 7.68% | $4,205,024 |
| Oct 2023 | $815,676,646 | $536,906,584 | 65.82% | $68,109,000 | 8.35% | $4,597,331 |
| Totals | $6,496,927,904 | $4,252,439,059 | 66.00% | $381,310,000 | 5.65% | $25,738,377 |
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.
