Las Vegas casinos soar amid March Madness boost
The month saw the state’s casinos bring in $1.35bn, just $100m short of the region’s record.
March was a phenomenal month for the Silver State’s casinos and sportsbooks, as revenue came in just below the jurisdiction’s previous record set in July last year.
According to information released by the Nevada Gaming Control Board, casinos raised $1.35bn during the third month of the year. This is just $100m less than the number reaped in July 2021.
From this impressive number, the state brought in approximately $98m in tax revenue.
Sportsbooks also fared well this month, as college basketball consumed the national conversation, recording a handle of $863m. From this handle, operators won just under $40m.
Much of this success can be attributed to a packed month of sport, with March Madness and NASCAR being central to this.
Speaking with the Associated Press, Senior Analyst Michael Lawton noted that, for the first time, the city felt it had completely overcome the spectre of Covid-19 and had a “traditional March Madness atmosphere.”
These positives were reflected in the city’s overall tourist numbers, as 3.3 million people flocked to the nation’s gambling capital, over a million more than March, 2021.
The good news continues for Vegas as, this week, one of the city’s most famed properties opened its doors for the first time in years.
Speaking on the launch, Cynthia Kiser Murphey, the General Manager for Palms Casino Resort, noted: “Our team has worked incredibly hard to get to this day, and it’s a great accomplishment to introduce Palms once again to Las Vegas.
“The excitement and outpouring of support to see Palms reopen has been incredible. This is truly a special property, and we all consider it a privilege to be trusted with its return to the city. Our goal is to deliver a distinctive experience that makes everyone feel at home while they are in Las Vegas.”
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