Nevada has posted the latest financial update, revealing the Silver State saw a 2.6% monthly drop in revenue in April. The good news is that revenue still remains above the $1 billion mark.
Unfortunately, no year-on-year comparison could be made for most verticals since all gambling establishments in the state were closed in April 2020 due to the pandemic.
Gambling Revenue Exceeds $1 Billion
Gambling generated $1.04 billion in revenue during April, marking the second month in a row in which revenue exceeded $1 billion. These figures suggest the industry is slowly but surely recovering. The first time Nevada’s gambling revenue reached this important milestone was in February last year. However, we know what followed next.
Slots still lead the way, with $793.7 million in revenue during April, representing a 2.8% improvement compared to the previous month. Multi-denomination slots earned $355.2 million, while revenue from penny slots amounted to $340.8 million. At the same time, players staked a total of $11.05 billion.
Table games revenue declined by 16.7% from March to $245.8 million, with wagers went down by 6.5% to $2.02 billion. In terms of revenue, blackjack was by far the top game, generating $70.2 million. That’s more than twice as much as the second-placed roulette, although the figures were slightly lower than in March.
Roulette produced $32.4 million in revenue, outperforming baccarat by $3 million. Nevertheless, baccarat saw its best-performing month since September last year. Craps followed with $28.1 million.
Blackjack was also the top table game in amounts staked, with $752.7 million. Baccarat came in second, with $376 million. Craps and roulette players bet $186.1 million and $184 million, respectively.
Sports Betting Also Drops
Sports betting handle dropped by 28.6% to $457.8 million, but the vertical still generated $27.2 million in revenue – 30.8% less than in March. 65.8% of that sum, or $17.9 million, was generated online from $297.1 million worth of bets.
The majority of sports betting revenue was generated by baseball, which contributed $14.1 million. Players wagered $163.7 million on baseball.
Basketball was the most popular sport among bettors, who wagered $181 million. It’s expected this figure will drop next month, as both the NCAA Basketball Tournament and the NBA regular season came to an end.
Without any major events apart from the NFL Draft, football posted a $2.5 million loss in April. Only $3.5 million was wagered during the month, primarily because of the number of large-amount bets placed over the last couple of months, which were paid out in April.
Hockey generated $2.1 million in revenue, with other sports bringing $4.9 million.
Clark County, including Las Vegas, generated $865.5 million in revenue, with slots bringing $639.2 million and table games $226.2 million.
The Las Vegas Strip is still struggling to return to its pre-pandemic performance. Revenue of $483.4 million represents a rise of 18.9% from February 2020.