Nevada Comes Close to Beating Casino Record with $1.355B in March

More good news is coming from Nevada as the Silver State has managed to total an impressive $1.355 billion in total casino revenue in March. The Nevada Gaming Control Board revealed the numbers indicative of another 27% year-over-year growth for the company. In fact, casinos have obliterated pre-pandemic results by another 38% as the casino revenue back in March 2019 stood at $981 million, still short of the present-day results.

Strong Casino Results in Nevada for March 2022

Slot machines drove the gambling bonanza in Nevada with $903 million clocked in on various machines. Then again, table games all went up over 50% with the gross gaming revenue from tables, sports betting, and bingo hitting $452.2 million. In the words of NGCB senior economic analyst Michael Lawton, there is much to be optimistic about. While other states have fallen behind or have struggled to find their foothold, Nevada has been chugging along nicely.

March’s results were indicative of a growing appetite for gambling that the Silver State is fully-prepared to deliver on, Lawton assured. The entire state has seen an uptake in gambling activities and more tourists. Baccarat managed to drive a 93% growth in gross gaming revenue in March, collecting a total of $131.7 million. Beckoning to travelers from far and wide, Nevada’s VIP casino tables have been a godsend for people from Asia where many of the markets remain shut down or limited, albeit a recovery is expected soon.

Regardless, visitors drove blackjack revenue up 46% year-over-year to $104.5 million, an impressive result overall. Roulette won another $54 million and craps added $41 million. All of these metrics exceeded 50% in terms of total growth on annual basis. March came very close to beating the July 2021 record which sat at $1.359 billion but fell short.

The pandemic has not been able to quite crimp the competitiveness of casinos and contrary to popular belief, lockdowns and layoffs have not undermined the competitiveness of Nevada’s casino market, although challenges do continue to throw spanners in the work.

Clark County Drives Casino Growth Significant

Clark County alone generated the bulk of the March figures with the Las Vegas home county reporting $1.178 billion. This is better than July 2021’s $1.162 and has been indicative of the return of tourists. According to the Las Vegas Convention and Visitors Association, a total of 42.5 million people visited Sin City in 2019, with many coming from Asian countries where gambling is still not fully recovered and VIP rooms are still not operating at full blast.  Las Vegas and Nevada still mostly depend on their domestic market, with only 3% of visitors in 2021 being foreigners.

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