Nevada Gaming Win Eclipses $1B for 13th Consecutive Month, as Record Play Continues
Posted on: April 28, 2022, 10:48h.
Last updated on: April 28, 2022, 12:06h.
It’s a baker’s dozen for Nevada casinos, as gross gaming revenue (GGR) in March eclipsed $1 billion for the 13th consecutive month.
Today, the Nevada Gaming Control Board (NGCB) revealed statewide March casino revenue totaled more than $1.355 billion last month. The March haul is a 27% year-over-year gain and 38% better than the $981 million the casinos won in pre-pandemic March 2019.
Last month, slot machines won $903 million, a nearly 17% improvement on March 2021. But table games were most responsible for the surge, as cards, dice, and bingo saw GGR spike more than 50% from a year ago.
GGR from tables, bingo, and sports betting totaled $452.2 million — a 53% year-over-year improvement.
March’s results further support strong demand for gaming activity, and consumer behavior remains consistent across multiple customer segments throughout the majority of markets statewide,” said Michael Lawton, senior economic analyst at the NGCB.
Baccarat fueled the table jump, as the game popular with Asian gamblers saw GGR soar 93% from March 2021 to $131.7 million. The baccarat win is a major sign that foreign travel from key international markets is returning to the US main gaming destination.
Blackjack revenue totaled $104.5 million — up 46% from 2021. Roulette won $54 million for the house, a 62% increase, and craps added another $41 million — a 56% gain.
March 2022 represents the second-best gaming revenue month in Nevada history. Only July 2021 experienced higher GGR, casino income that month totaling $1.359 billion.
However, Clark County, which is home to Las Vegas, experienced its best month ever last month. Clark County GGR totaled $1.178 billion in March ’22, narrowly eclipsing July 2021’s county totaling $1.162 billion.
The Strip, of course, accounted for the lion’s share of the action at $746.2 million. Of the $131.7 million in statewide baccarat win, 96% — or $126.5 million — was realized on the Strip.
In 2019, the Las Vegas Convention and Visitors Association said roughly 42.5 million people visited Las Vegas; 14% originated from foreign countries, with Asia being a major feeder market. Foreigners accounted for just 3% of the 32.3 million visitors to Las Vegas last year.
The gaming numbers fall in line with data from Harry Reid International Airport. Las Vegas’ main commercial airport facilitated almost 4.3 million passengers last month — its highest monthly total since February 2020.
Bettors Fare Better
Sports bettors performed better in March 2022 than they did a year ago. Though oddsmakers took $863 million in bets — a nearly 35% increase from March 2021 — the public fared better during the 2022 NCAA men’s college basketball tournament.
Oddsmakers last month reported a hold rate of 4.3%, down substantially from 6.2%. As a result, sportsbook GGR declined 6% to $36.9 million.
Sports betting handle — or the amount bet — failed to hit the $1 billion threshold for a second consecutive month. Nevada books exceeded $1 billion in wagers each month between October through January.
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May 12, 2022 — 4 Comments—