Nevada Gaming Revenue Declines In March, Declines For First Time In 8 Months

According to revenue data released by the Nevada Gaming Control Board (NGCB) on April 25, gaming revenues collected in Nevada have declined over the past month. In addition, this decline was the first in the last eight months.

Reduced gaming revenue:

Despite a 1.7% drop in statewide revenue, overall revenue in the ongoing first quarter and third quarter in FY was up from prior year levels, despite a 1.2% drop in Streep's revenue and a 1.6% drop in Clark County's revenue. But revenue in Streep and Clark County was also down slightly during January.

Commenting on the matter, NGCB senior economist Michael Lawton said March could be a bit disheartening given NASCAR's return to the Las Vegas Motor Speedway and the number of events related to concert performances by Carrie Underwood, Madonna and Bruce Springsteen. Despite this, March is still being compared to record gross receipts collected from slot machines during the previous year's March.

Although March was full of well-known events, the entire month may not have been as eventful as it was in March 2023, when the NCAA basketball tournament had a local matchup at T-Mobile Arena, and when Taylor Swift put on two shows at Allegiant Stadium, a large ConExpo-Con/Ag construction equipment trade show downtown.

A total of 444 licensed large casinos in Nevada made $1.29 billion from their athletes. For 61 casinos located on Streep, they earned $715.9 million, while a total of 220 casinos located in Clark County made $1.132 billion.

More than half of the state's submarkets reported a drop in sales in March:

In this regard, the NGCB oversaw 20 submarkets, 12 of which were down in March, more than half. However, the single submarket with the biggest decline was downtown Las Vegas, which fell 12.9% to $76.2 million.

The top performing companies were Washo County and Wendover, each with 7% income growth.

According to the Las Vegas Review-Journal, the state's bookmakers earned $29.8 million, down 32.1% from 2023, although betting on March Madness dominated sports betting. With casino holdings at 5.28% to 3.79%, punters were luckier with sports betting in 2023. Bettors bet 5.5% year-on-year, a.k.a. $784.4 million, and bets made through mobile betting fell 4.6% to $577 million.

And baccarat games have been a good source of income for casinos, as they've been lucky relative to their players. They've also managed to earn $114.7 million this year, up 75.5% from last year, with a retention rate of 18.81%, compared with 10.33% in 2023.

For the game tax, the total amount of Nevada's general funds in the ongoing fiscal year remains above $100 million. After nine months of accumulation, Nevada earned $841.5 million, a 2.4% increase over the 2022-23 fiscal year. 슬롯사이트