The Nevada Board of Gaming Control released its March revenue report, showing that the state made $1.32 billion in total gaming revenue in the third month of 2023.
Unsurprisingly, slots brought in the largest share of Nevada’s March revenue: $906.4 million. Additionally, table and card games made $405.6 million – representing a 10% decline overall. Focusing on the Las Vegas Strip, revenue dropped 2.9% to $724.6 million.
Meanwhile, for the state as a whole, sportsbook earnings topped $43.9 million – showing a 19% increase from March 2022 – with mobile betting making up 64% of the entire segment in Nevada. As a total of all bets won, sportsbooks accounted for 5.3%, up 1% year-on-year.
Wells Fargo analyst Daniel Polizer commented on the figures in Nevada, stating “March was a solid month in Las Vegas and consistent with the operator’s recent comments that it could be among the record months there”.
While this is the 25th straight month that Nevada’s revenue has topped $1 billion, the fact that the state has recorded an annual decline for the third time in 12 months brings with it a sense of apprehension.
Recently, Macau, the great Chinese gaming hub, recorded a 33% increase in gross gaming revenue (GGR) in February – a total of MOP$10.32 billion (US$1.27 billion).
While this number is lower than Nevada as a whole, Macau is “ready to grow” in 2023, according to a report by CasinoReviews, as the region recovers from China’s zero Covid policy – which was ended by the Chinese government at the end of last year, after rare widespread protests by Chinese citizens.
