A Good February For Nevada Casinos
The Nevada Gaming Control Board (NGCB) has published the latest results, revealing the state has grossed more than $1 billion in February, recording a year-on-year increase of 7.7%/
The fiscal year, which represents the period from July 2017 to February 2018, has also been a lucrative one for the Silver State, with its gaming win going up by 2.3% to $7.9 billion.
A Big Thank You To Baccarat
There is good news for the legendary Las Vegas Strip, which recorded the first monthly increase since October last year, while the total winnings of $603 million represent a solid 11.37% increase when compared to the same period of last year.
According to Michael Lawton, NGCB senior research analyst, the “big baccarat win” on the Strip was the main driving force behind the excellent results in February, recording a staggering 82.5% rise to $79.7 million.
Lawton added this February had been much stronger than the last one due to Chinese New Year falling in January 2017.
Sportsbooks’ Results Could Have Been Better
February halted the excellent run of the state’s sportsbooks. The overall revenue for this vertical went down by 48% to $10.7 million, but still, the result is a positive one, marking the 55th winning month in a row for Nevada sportsbooks. The last time this vertical recorded a losing result was back in July 2013, almost 5 years ago.
Football wagering declined to $2.5 million (-136.35%), while basketball managed to record a slight increase of 0.68% to $11.6 million. Sports parlay cards went down by 58% to $449,000, with sports pari-mutuel also dropping to $4,000 (-71%).
Nevada slots revenue recorded a 4.17% increase, reaching $605.58 million, with total games and tables going up by 13.27% to $412.33 million. However, blackjack, craps, and roulette all went down during February.
According to available figures, the state took home around $44.2 million in percentage fees, nearly 15% less when compared to March 2017.