Revenues up 8.1 percent year-on-year, boosted by Superbowl sports betting
The Nevada Gaming Control Board reported Wednesday that gambling revenues in the Silver State were up 8.1 percent year-on-year in February, buoyed by strong sports betting on the Superbowl and an extra day due to a leap year.
The Board revealed that February gaming win in the US state amounted to $989.8 million, an 8.1 percent rise compared with the same period in 2015 and well ahead of the $925 million posted in the immediately preceding month.
Poker revenues, including online poker, came in at just under $9 million in February, 5.4 percent better on a y-o-y basis and the biggest increase since January 2014.
For the fiscal year to date, total gambling win in Nevada is up 1.5 percent at $7.5 billion.
Gambling revenue from football betting was particularly good, rising 10 percent, and positive for operators despite football winnings accounting for less than 1 percent of Nevada's annual gambling revenue, and sports betting overall accounting for about 2 percent.
Nevada sports books took in a record $132.5 million in Super Bowl wagers for this year's game, in which underdogs Denver Broncos upset the Carolina Panthers 24-10. The books held around $13.3 million of that, according to preliminary figures.
Total sports betting handle for February came in at $363 million – a February record.
On table games, revenue rose 8.3 percent, whilst slot action was up 7.8 percent.
Las Vegas Strip gambling revenue grew 7.3 percent to $570 million, while downtown Las Vegas brought in $51 million for a 17 percent increase. Reno casino revenue was up 6.9 percent to $48 million, and South Lake Tahoe revenue was up 3.8 percent to $16 million.
The (usually) big money generator, baccarat, was again flat in February.
The Nevada taxman benefitted to the tune of $51 million in February – down 12.9 percent year-on-year.
Board analyst Michael Lawton said that future events in the state could be good for operators in the weeks ahead, including March Madness, major fights and the grand opening of the T-Mobile Arena on the Las Vegas Strip.
Online Casino News Courtesy of Infopowa
