Massive Increase in Gambling Revenue
Nevada, the home of gambling in the US, has reported an impressive 8.5% year-on-year increase in gambling revenue. The Silver State took $1.34bn in profit, with the sports bowl and an increase in baccarat numbers being the key drivers.
A Huge Month
The reported figures for February are an increase on the $1.28bn that the state reported in January. This is notable because it was the highest January on record for the state.
As always, slot machines were the biggest earner. They took $827.6m in revenue during the month. This was only a slight increase of 0.6% from the previous year. Much of the growth comes from card and table games, with baccarat being the most notable contributor.
Baccarat saw an impressive increase of 75.5% from the previous year, while blackjack and craps revenue were both up 15.6% and 22%, respectively. There appears to be no clear reason why baccarat has had such a huge increase outside of the game becoming more popular over the last year.
Super Bowl and Sports Betting
All states tend to report a significant increase in sports betting revenue during February, with the Super Bowl being the biggest event on the sporting calendar. Nevada was even more primed to take advantage of that this year, with the event being in the Allegiant Stadium in Las Vegas.
The state saw a 16% increase in sports betting revenue up to a total of $47.9m. Around 25% of this was generated by football at $12m.
Basketball was the biggest earner, bringing home $24.7m. It is worth noting that football has considerably fewer games in February, with the Super Bowl being the only event. The match took place on February 11th.
Elsewhere, the Las Vegas Strip reported a 12.4% year-on-year increase for February, with the iconic street bringing in $800.7m.
