They’ve kept it going for nearly two years! Yes, January marked the 23rd consecutive month that Nevada gaming revenue streak has hit the billion dollar mark, according to a report from the Nevada Gaming Control Board. Now, let’s just hope that our reporting this doesn’t jinx them!
The state reported revenue for the first month of 2023 to be $1.27 billion, which was nearly a 20% jump from the $1.07 billion they reported in January of last year. That increase was attributed to the continued recovery from the pandemic, as more Covid restrictions were lifted throughout the year.
Casino profits led the way for all Nevada gaming revenue, with slot machines bringing in the bulk of cash at nearly $850 million. That was over 20% higher year-on-year. Not to be left out, table games and card games also contributed to the tune of about $425 million, which was also a jump of over 15%.
Sports betting remained mostly flat, accounting for $50 million of the total. That may be due to the fact that sports betting was already legal in the state before the sweeping changes that we’ve seen take place. Additionally, since much of sports betting is done on mobile, they may not have slowed down as much during the lock downs.
That said, it should come as no surprise that mobile betting accounted for well over half of the sports betting revenue. The total handle for sports bets in the state contributed more than $935 million to Nevada gaming revenue in January. That was a jump from the December total of just $880 million.