NEVADA GAMBLING REVENUE DECLINES FOR 11TH CONSECUTIVE MONTH
Nevada’s regulated gambling market contracted again in January 2021 as total gaming revenue fell by 27 per cent to $761.8m.
Gaming revenue declined year-on-year for the eleventh consecutive month since the start of the COVID-19 pandemic, although the market recorded growth of 11 per cent compared to the previous month’s $683.7m total.
Revenue from slot machines declined by 22 per cent year-on-year to $526.5m in January, accounting for 69 per cent of total revenue, while revenue from Table, Counter and Card Games fell by 36 per cent to $235.4m, with the most popular games being Blackjack ($55.0m), sports betting ($52.4m) and Baccarat ($28.9m).
Sports betting revenue soared by 160 per cent compared to a year ago thanks to the availability of sporting events, from January sports handle of $647m.
American football accounted for the bulk of January’s sports betting revenue at $25.6m, with basketball contributing $22.2m, ice hockey $1.7m, Sports Parlay Cards $1.1m and other sports $2.3m, offsetting negative revenue from baseball.
Race Books contributed a further $2.3m in revenue during the month, a decline of 17 per cent versus January 2019.
In the past twelve months, Nevada’s total gambling revenue has fallen by 37 per cent year-on-year to $7.60bn, with slot machine revenue falling 34 per cent to $5.27bn and revenue from Table, Counter and Card Games 44 per cent lower at $2.33bn. This includes a 12 per cent drop in sports betting revenue to $295.0m and a 33 per cent decline in Race Book revenue to $25.6m due to cancellations in the early part of 2020.
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