Nevada’s gambling revenues in March were $1.29bn, down 3.7% from the previous month.
Nevada’s March revenues fell 1.5% short of the $1.34bn total from February, and also behind last year’s same-month revenue of $1.31bn. Taxes collected by the state for March totalled $86.5m.
The dominant product continues to be slot machines, which generate $874.5m, or 67.8%, of monthly revenue. Nevada’s March slot revenues were 5.7% higher than February’s $827.6m. Multi-denomination machines are the only ones in this segment that have seen year-on-year increases.
Table, counter, and card games generated $415.9m, which is 19.2% less than February’s $514.6m. Baccarat’s revenue dropped 36.3%, from $180.1m down to $114.7m. It remains the top earner of table, counter, and card games.
Nevada’s fiscal year to date has generated $11.92bn, an increase of 4.44% over the previous period.
Nevada sportsbook revenue down despite March Madness
Nevada’s sportsbook revenues fell by $29.8m in March despite the March Madness.
This is a drop of 37.8% month on month, despite the Super Bowl being held in Nevada. Allegiant Stadium hosted the game, which saw the Kansas City Chiefs beat the San Francisco 49ers by 25-22.
Basketball generated $32.5m, but losses in football of $12.9m heavily reduced the profits produced by March Madness.
Strip Revenue also Drops In March
Nevada’s revenue on the Las Vegas Strip surpassed $800 million in February but failed to match that in March.
Las Vegas Strip generated only $715.9m dollars in March. This is 10.6% less than the $800.7m of February. The $715.9m figure for March was also down 1.2% from last year’s $724.6m.
Slot machines on the Strip generated revenues of $401.4m, a significant increase from the $381.0m in the previous month. Table, counter, and card games generated $314.4m, a drop of over 25% from February’s $419.7m.
The casinos in Clark County generated 1,13bn dollars of revenue for March, 1.55% less than the previous month.
