Nevada Gaming Income Units February Document, Tops $1.3B

Posted on: March 28, 2024, 04:31h. 

Final up to date on: March 28, 2024, 04:42h.

Nevada gaming income reached new highs in February because the Tremendous Bowl, Chinese language New 12 months, and bonus day due to the intercalary year mixed to create an unforgettable month.

Nevada gaming revenue Las Vegas Super Bowl
Las Vegas’ internet hosting of Tremendous Bowl LVIII was a successful wager by way of on line casino income. Nevada casinos noticed gross gaming income in February 2024 surge 8.5% to $1.34 billion, with the Strip fueling the positive factors. (Picture: Getty)

The Nevada Gaming Management Board (NGCB) revealed Thursday that the state’s casinos grossed greater than $1.34 billion on their gaming flooring in February 2024. It marked the very best February ever and the fifth-best month total for Nevada’s gaming pursuits.

It was a fairly unbelievable month, and if there have been 31 days we would have set an all-time report for gross gaming income,” stated Michael Lawton, the NGCB’s senior financial analyst.

February marked an 8.5% year-over-year improve from 2023. The month prolonged Nevada’s streak of successful at the very least $1 billion to 36 consecutive months.

February additionally marked a serious rebound after January’s GGR was down virtually 4% 12 months over 12 months. January’s struggles have been blamed on some vacationers delaying their plans till February to coincide with the Tremendous Bowl being performed in Las Vegas for the primary time, and the Chinese language New 12 months falling in February as a substitute of January, because it did in 2023.

The eight-day Individuals’s Republic vacation formally ran from February 10-17. Las Vegas hosted Tremendous Bowl LVIII on February 11.

Felt Fortunes

In contrast to america market, Chinese language gamers fancy desk video games greater than slots. The NGCB’s February report demonstrated that, as statewide desk sport income surged by greater than 24% whereas slot win was up lower than 1%.

On the Las Vegas Strip, desk sport GGR was up much more. Tables on the principle drag reported GGR of $419.7 million, a greater than 30% year-over-year premium.

Baccarat, the sport of selection among the many Asian clientele, skyrocketed 82% to $180.5 million. Baccarat outpaced blackjack, which received $107.8 million, a 21% enchancment.

The Strip’s slots reported a 2.4% year-over-year GGR decline. Luck was accountable, because the casinos’ win fee tumbled from over 8% in February 2023 to 7.7% final month. Craps win was up 33% to $34.4 million whereas roulette gamers misplaced $24.4 million, a 28% year-over-year lower because the wheel extra favored the participant than it did a 12 months in the past.

Oddsmakers on the Strip fared properly regardless of Tremendous Bowl LVIII not precisely being an excellent final result for the books. Strip sports activities betting win was $24.7 million, a ten% improve from the prior February.

The Kansas Metropolis Chiefs’ 25-22 additional time win towards the San Francisco 49ers generated a report deal with of $185.6 million in Nevada. Oddsmakers statewide stored simply $6.8 million of the motion as the general public backed the Chiefs, and the legion of recent NFL followers dropped at the sport by Taylor Swift cheered on her boyfriend, Travis Kelce.

In all, Strip GGR totaled $800.7 million, up over 12%. Downtown Las Vegas casinos received $76.2 million, up 3%.

Customer Surge

The Las Vegas Conference and Guests Authority (LVCVA) revealed in its February Government Abstract that Southern Nevada’s internet hosting of the NFL huge sport and the Chinese language New 12 months delivered elevated tourism. Greater than 3.37 million individuals ventured to Las Vegas, Laughlin, and Mesquite final month, which marked a 9.5% year-over-year climb.

These guests have been met with a lot larger nightly room charges. Strip casinos elevated their rooms forward of the Tremendous Bowl and the week-long Chinese language New 12 months interval. That resulted in a mean nightly room on the Strip costing virtually $270 earlier than taxes and resort charges.

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