The state of Nevada, widely regarded as one of the premier destinations for gaming in the United States, has reported a dip in gambling revenue for the month of March, failing to keep pace with the preceding month as well as the comparative period a year prior. March revenue tallied at $1.29 billion, which is not only a slide from February’s $1.34 billion but also trails the $1.31 billion generated in March the previous year, marking a 1.5% year-on-year decrease.
Contributing significantly to the state’s revenue are slot machines, which combined for $874.5 million and commanded 67.8% of the monthly total. This figure shows an upward trajectory from February’s slot earnings of $827.6 million — a 5.7% month-on-month increase. Of particular interest are the multi-denomination slots, which stand alone in the segment as having recorded growth year-over-year.
In contrast, table, counter, and card games witnessed a drop in revenues, accruing only $415.9 million. This represents a sharp 19.2% deficit from February’s impressive $514.6 million. While baccarat remained the dominant force within this group, its revenue sank to $114.7 million from $180.1 million, a 36.3% fall from February’s figures.
Despite the sobering results of March, Nevada maintains a strong fiscal position year-to-date, with gaming revenues amassing $11.92 billion—a 4.44% increase over last year’s figures for the same period.
Interestingly, the month of March includes the popular college basketball event known as March Madness. Despite the fervor and betting interest that typically accompanies this event, Nevada’s sportsbook outlets experienced a decline. Revenue footed to $29.8 million, which is a notably steep 37.8% drop from February, although it is worth noting that this comparison includes February’s Super Bowl hosted in Nevada. The highly watched event was held at Allegiant Stadium, where the Kansas City Chiefs edged out the San Francisco 49ers in a close encounter.
Basketball revenue was strong at $32.5 million, a testament to March Madness activity. Nonetheless, this was offset by considerable losses of $12.9 million in football, reducing the profit margins substantially.
Turning to the renowned Las Vegas Strip, while February boasted $800 million in revenue, the subsequent month could not sustain this high, earning a relatively lower $715.9 million—a 10.6% drop from February and a 1.2% decrease year-over-year. Slot revenues on the Strip did show a positive sign, with contributions amounting to $401.4 million, but tables, counters, and card games lagged with a 25% plus decline from February, drawing in $314.4 million for the month.
Encompassing the data from the Las Vegas Strip, the overall performance of casinos within Clark County, to which the Strip belongs, garnered $1.13 billion in March, marking a 1.55% drop in comparison to the same month in the previous year.
Despite the mixed results, the state remains a formidable player within the gambling industry, illustrating not only the cyclical nature of gaming revenue influenced by events such as the Super Bowl and March Madness but also the fluctuating consumer preferences across different gaming segments. What remains apparent is the embedded resilience and enduring appeal of Nevada’s gaming landscape, even in the face of monthly revenue fluctuations.
