The latest gaming revenue report from the Nevada Gaming Control Board (NGCB) has revealed that the state’s gambling operators have generated over $1 billion for the eleventh month in a row.
In its release the NGCB said that the state’s casinos reported almost $1.1 billion gaming revenue for the month of January up by 41.6% on January 2021. However, it also noted that NV casinos were operating at limited capacity in 2021 due to pandemic restrictions.
The Las Vegas Strip accounted for over half of the state’s total reported revenue as casinos generated $567.2 million, an increase of 76.4% from the same period in 2021. This was also 6.6% higher than January 2019 before an restrictions were in place.
NGCB senior economic analyst Michael Lawton said that Omicron affected visitors numbers on the Strip in early January with a more than 75% decline in attendance at the Consumer Electronics Show. This resulted in a 1% drop in revenue when compared to January 2020 when casino were operating at full capacity.
Las Vegas welcomed 2.47 million visitors throughout the month which was around 600,000 fewer than in December. Although it was a 91.2% increase on the previous January, it was still a drop of 27.5% on January 2019.
Despite the drop in numbers, Nevada gaming shows no signs of slowing down following a record-breaking 2021 that saw gaming revenue hit $13.4 billion with the Strip alone generating $7.07 billion of that figure.
Sports betting sets yet another record
October 2021 was the first time that Nevada sportsbooks accepted over $1 billion in wagers in a single month and they have done so every month since with January the fourth month in a row to top $1 billion. Licensed sports betting operators reported accepting over $1.1 billion during January up 71.7% on January 2021 and setting a new single month record.
Of that $1.1 billion figure, $787.7 million came through NV sports betting apps accounting for 71% of all sports wagers during the month. Revenue from sports betting hit just over $50 million.
As a result of another record-breaking month, the state collected $81.2 million in percentages fees, a jump of 75.47% on the same period in 2021.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.