Nevada Casino: State Generated $1.4B Total Casino Revenues in March

Nevada Casino: State Generated $1.4B Total Casino Revenues in March

More good news is coming out of Nevada, as the Silver State has managed to generate an incredible $1.355 billion in total casino revenue in March, according to the Nevada Gaming Commission. 

According to the data released, the Nevada Gaming Control Board reported that the company’s revenue increased by another 27 percent year over year.

The numbers from March 2019, which was $981 million, indicated that casinos have smashed pre-pandemic results by another 38 percent, leaving them still short of current-day outcomes.

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Strong March Revenue Expected

Slot machines were the driving force behind the gambling boom in Nevada, with a total of $903 million being wagered on a variety of machines. In contrast, table games had an increase of over 50%, with gross gaming income from table games, sports betting, and bingo totaling $452.2 million, an increase of over 50%. According to Michael Lawton, senior economic analyst at the National Governors’ Conference, there is reason to be positive. In contrast to other states that have lagged behind or have struggled to establish a presence, Nevada has been steadily progressing forward.

March’s results were indicative of a growing hunger for gambling, which Lawton said was something that the Silver State was perfectly prepared to meet with vigor. Gambling operations have increased across the state, as have the number of tourists visiting. Baccarat was responsible for a 93 percent increase in gross gaming income in March, with a total of $131.7 million in money collected. Nevada’s VIP casino tables have attracted visitors from all over the world, and they have proven to be a godsend for those from Asia, where many markets are still closed or limited, though recovery is predicted shortly.

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Overall, visitors contributed to an increase in Blackjack revenue of 46 percent over the previous fiscal year to $104.5 million, an exceptional result overall. Another $54 million was won in roulette, while another $41 million was won at craps. All of these indicators experienced annual growth rates more than 50% in terms of total increase. The month of March came very close to breaking the previous record set in July 2021 ($1.359 billion), but fell short. However, against widespread opinion, lockdowns and layoffs have not significantly weakened the competitiveness of the Nevada casino sector, despite the fact that obstacles continue to throw a wrench in the works.

Clark County is a significant driver of casino growth

Clark County alone accounted for the lion’s share of the March data, with the Las Vegas metropolitan area reporting $1.178 billion. This is a significant improvement above the $1.162 recorded in July 2021 and has been interpreted as a sign of the return of tourists. A total of 42.5 million people visited Las Vegas in 2019, according to the Las Vegas Convention and Visitors Association, with many arriving from Asian countries where gambling has not yet fully recovered and VIP rooms are not yet functioning at full capacity. Foreign visitors will account for only 3 percent of total visitors in Las Vegas and Nevada in 2021, indicating that the state’s economy is still mostly reliant on the domestic market.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.