Nevada Sportsbooks See Promising Start in January 2021

In January 2021, Nevada's total revenue across all gaming products and services reached $761.8 million, marking an 11.4% increase from December 2020. However, this figure also reflects a significant 26.6% decline compared to the same month the previous year. Revenue was divided into $526.5 million from slot machines, which experienced a 26.7% drop from January 2020, while earnings from table, counter, and card games fell 35.6% to $235.4 million. Notably, the state's sportsbooks performed exceptionally well, with revenue soaring by 159.9% to $52.4 million. Sports betting was one of the few segments in this category to show year-on-year growth, second only to blackjack, which brought in $55.0 million. With an 8.10% hold percentage, the total stakes for the month amounted to $646.7 million, a 28.7% increase. Mobile wagering comprised $363.7 million of the total bets, contributing $23.1 million to the revenue. Despite this positive trend, Nevada's figures lagged well behind New Jersey, where sportsbooks reported revenue of $82.6 million, setting a new monthly record. New Jersey’s total handle also surpassed Nevada's, reaching $948.7 million, despite a month-on-month decline.