Casino gaming revenues in Nevada has shrunk in February when compared to the previous year results for the same period.
According to the estimates released by the Nevada Gaming Control Board (NBCB) on Thursday, the total revenue generated by the casinos operating in the state crossed the $1 billion mark and was approximately $1.012 billion for February.
Despite a considerably huge revenue, the revenues have been reduced by 0.62% when compared to revenues generated in February last year. The revenues have increased in comparison to January 2019 though. In January the total cumulative revenue was $984.5 million.
Breaking down the revenues depending upon the location of the operators shows that the Vegas Strip casinos didn’t perform up to the mark and the gaming revenue was cut 2% to $592 million. Downtown casinos did well to gross a $58 million, a 9% increase in the total revenue.
The significant increase was reported in the revenues from the sports wagers. The revenue from sportsbooks grew by a massive 235% to $35.8 million. It was a more than 200% increase in sportsbooks revenues when compared to the revenue generated in January.
The reason for such an increase in sportsbooks revenues is attributed to the basketball betting as it accounted for over 50% of all sports wagers placed at the state’s licensed casinos.
While revenues from basketball wagers were around $20 million, from football wagers, the casinos generated $11 million in revenues.