The latest monthly revenue report from the Nevada Gaming Control Board has revealed that the state’s casinos set an all-time record by collecting $1.23B in gaming revenue during the month of May. This beats the $1.17B record set in October 2017 and marks a 25% increase on May 2019’s pre-pandemic figures.
Revenues increased across all casino districts with statewide gaming revenue up 8% for the financial year to date.
The strip’s casinos have seen an increase in revenue for the second month in a row with the latest figures marking a 26.7% jump on May 2019’s figures. Slot machines once again proved to be the biggest earner bringing in revenue of $358.3M, up 24.5% from May 2019’s figure and setting an all-time monthly record in the process.
The figures have come as a surprise given that Las Vegas tourism is actually down on the same period in 2019. The Las Vegas Convention and Visitors Authority shows that in April — the latest figures available — the number of tourists that visited the city was down 27% on April 2019 while hotel occupancy was down 24% for the same period.
In Downtown Vegas, the most popular district for local gamblers, the latest revenue figures mark a 13% jump on the same period in 2019. The district’s total win of $75.2M is the second-highest monthly total in the area’s history.
Nevada’s sportsbooks posted a sports betting handle of $477.2M in May, up 4.9% on April’s handle of $454.7M. Sports betting revenue dropped to $27.1M for a 5.7% hold. This generated over $1.8M in taxes for the state.
Mobile sports betting accounted for 62.4% of all bets placed, down from 65.3% in April.
Basketball remains the most popular sport attracting $181.5M in bets during May and generating $11.4M in revenue for sportsbooks. Baseball followed closely with a handle of $176.8M generating $8.7M in revenue.