Nevada January gaming revenue totals $762m, down 27% y-o-y
Nevada casinos earned revenue of $762m in January, a decline of nearly 27% year-on-year, while sportsbooks saw revenue soar 160% to $52m.
Figures released Thursday by the Nevada Gaming Control Board painted a divergent picture across the state. Las Vegas Strip casinos saw a 44% y-o-y decline as win reached $322m, whereas Washoe County (Reno) reported $69m for a 5% improvement, and Elko County grew 26% to $32m.
Downtown Las Vegas fared better than the Strip; there, revenue fell just 17% to $49m. All Nevada casinos operated at 25% capacity last month.
Slots generated $527m of the monthly gamine revenue, down 27%. Table, counter and card games win fell 36% to $235m.
The steep y-o-y drop-off at Las Vegas Strip properties was partly the result of few New Year’s Eve festivities and the absence of CES, the annual technology conference known to draw 150,000 people to the city each January.
Also on Thursday, the Las Vegas Convention and Visitors Authority released January figures, which showed overall visitor volume was $1.3m, a 64% decline from a year ago. Occupancy was 48% on weekends and 23% midweek, down 42% and 61% from last January.
Las Vegas visitation did improve 4% from December.
While southern Nevada casinos saw their struggles continue, sportsbooks enjoyed a strong month that saw handle reach $647m. Nearly half of sports betting revenue came via NFL and college football, which combined to give the house nearly $26m in win.
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