Nevada March gaming win tops $1bn, sports betting handle soars to $641m
Nevada March gaming revenue was $1.07bn, a 73% year-on-year increase from March 2020 when casinos closed due to the Covid-19 pandemic.
Win was significantly up from February’s haul of $772m.
March revenue was Nevada’s highest since February 2013 according to Gaming Control Board analyst Mike Lawton. The last time the state topped $1bn in gaming revenue was February 2020.
Las Vegas Strip casinos reported win of $502m, a 67% jump y-o-y. Downtown Las Vegas won $71m, good for a 63% improvement.
In much of the state revenue was up triple figures from a year ago. Washoe County, home of Reno and North Lake Tahoe, reported win of $83m for a 153% increase, while South Lake Tahoe won $24m for an improvement of 166%.
Nevada collected $97m in percentage fees for the month.
It was also a stellar month for sportsbooks, which collected $641m in handle generating revenue of $39.3m for a 6.1% hold.
March produced the third-highest handle in state history and pushes US sports betting handle past $50bn since the repeal of PASPA in 2018.
Basketball was responsible for $502m of wagers last month, with the vast majority bet on the NCAA Tournament. Basketball handle was up 1.3% from March 2019, which indicates that the presence of additional sports betting markets did not Americans from traveling to Las Vegas for March Madness.
Mobile handle was $385m in March, amounting to about 60% of total wagers. Retail sportsbooks collected another $256m in handle.
Nevada’s mobile handle continues to trail other top markets like New Jersey and Pennsylvania, which both saw online wagers account for more than 90% of total handle last month.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
