Nevada revenues drop 2.9 percent in January

The Nevada regulator has released the state’s January gambling numbers, reporting that casinos won $925 million last month, down from almost $953 million in the first month of 2015.

The Nevada Gaming Control Board said that $82 million of the win found its way into the state’s tax coffers – up around 19.6 percent.

Board analyst Mike Lawton said that the results compared poorly with the same time last year, when there was a stronger event calendar. Baccarat players were also less in evidence last month.

Overall revenue dropped by 2.9 percent year on year.

$2.5 billion was bet on table games including blackjack, poker, roulette and craps, down y-o-y about $415 million, or 14.4 percent.

There was a $346 million casino win on table games state-wide in January, a fall of 11.6 percent from a year earlier, with almost $45.4 million of the decrease attributable to a drop in baccarat volume.

Slot machine volume was $8.6 billion, down 3 percent in January from a year earlier…but casinos won $579.3 million from slot operations, up 3.2 percent.

Nevada sportsbooks handled more than $448.2 million in wagers in January, but the operator win fell more than 3 percent year-on-year.

Las Vegas sports books did well, reporting win of $8.2 million on NFL playoffs, and $10.2 million on NCAA/NBA basketball games. Operators are looking forward to better results following the Superbowl earlier this (February) month, where legal wagering is expected to deliver operator win of at least $13.3 million (illegal wagering across the USA will be many times more than that).

The regulator reported that during the first seven months of the current fiscal year, casino win is up a mere 1 percent.