Baccarat Decline Results in 2.2% Drop in Nevada's March Revenue

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In March, gambling revenue in Nevada declined by 2.2% compared to the same month last year, primarily due to a significant drop of 51.0% in baccarat revenue. Despite this decline, total market revenue for March amounted to $1.31bn, representing a 5.7% increase from February 2023's $1.24bn. Slots remained the primary source of revenue, with multi-denomination slots generating $510.5m and penny slots generating $287.6m. However, revenue from table, counter, and card games, which included sports betting, decreased by 10.3% YoY to $405.6m. The decline was mainly due to a fall in baccarat revenue, which last year drew the highest portion of revenue in this area. Baccarat revenue in March 2023 was only $64.5m compared to $131.7m in 2022. Blackjack generated the most revenue in this segment at $132.9m, followed by craps with $40.7m.

Meanwhile, sports betting revenue increased by 19.0% YoY to $43.9m in March, with mobile betting accounting for $25.6m of the total. Basketball betting generated $44.9m in revenue, while football wagering resulted in a loss of $13.4m for operators. Hockey betting revenue was $4.9m, while other sports brought in $7.3m. Clark County, which includes Las Vegas, accounted for $1.015bn of the revenue, with revenue from the Las Vegas Strip amounting to $724.6m.