The month of February was marked by a historic number for Nevada‘s gaming industry, especially for the state’s casinos, which saw their revenues reach a new peak.
According to the Nevada Gaming Control Board (NGCB), establishments grossed more than $1.34 billion at their gaming floors, making this the best February ever and the fifth-best month overall for Nevada gaming interests.
Several factors contributed to the record in Nevada
Thus, the combination of several favorable factors boosted this impressive brand, which reached a new level.
The Super Bowl, one of the most anticipated events on the sports calendar, has attracted a large number of bettors and sports fans to Las Vegas. The fact that it was the first time that the city hosted the event contributed to this.
Furthermore, Chinese New Year, celebrated in February, also contributed to the increase in tourism and gaming activities.
Michael Lawton, senior economic analyst at NGCB, highlighted the month’s exceptional performance, stating that “if there had been 31 days, we could have set an all-time record for gross gaming revenue.”
Thus, the month registered a significant increase of 8.5% compared to February 2023. This extended the streak of months with revenues above US$1 billion to 36 consecutive months.
An interesting aspect is Chinese players’ preference for table games over slot machines. This was evident in February’s numbers, with statewide table gaming revenue increasing more than 24%.
Thus, slot machine winnings had a more modest growth of less than 1%.
The month of February was just a party for the gaming sector
On the Las Vegas Strip, the scenario was even more positive. The table game recorded a significant increase of more than 30% compared to the previous year.
Baccarat, in particular, saw an impressive 82% increase, surpassing blackjack in popularity among Asian players.
However, it wasn’t all good news for casinos. Strip slots saw a 2.4% drop compared to the previous year. This decrease is due to the casinos’ winning rate.
While those responsible for sports betting on the Strip, they performed solidly, with a 10% growth in sports betting compared to February of the previous year, driven by the Super Bowl.
In other words, overall, the month of February was an exceptional time for the Nevada gaming industry. There were several records being broken and a wide variety of events and factors contributing to the success of the state’s casinos.
