Nevada Gaming Revenue Sets February Record, Casino Win Tops $1.3B
Nevada gaming revenue reached new highs inward February, as the Super Bowl, Chinese New Year, and a fillip mean solar day because of the saltation yr combined to create an unforgettable month.
The Sagebrush State Gaming Control Board (NGCB) revealed Thursday that the state’s casinos grossed more than $1.34 one thousand million on their gaming floors inward Feb 2024. It pronounced the topper February ever so and the fifth-best month boilersuit for Nevada’s gaming interests.
It was a pretty unbelievable month, and if in that respect were 31 years we might have got countersink an all-time track record for porcine gaming revenue,” said Michael Lawton, the NGCB’s senior economic analyst.
February pronounced an 8.5% year-over-year step-up from 2023. The month extended Nevada’s streak of winning at to the lowest degree $1 one million million to 36 serial months.
February also pronounced a major rebound after January’s GGR was mastered almost 4% twelvemonth o'er year. January’s struggles were blamed on some travelers delaying their plans until February to cooccur with the Super Bowl beingness played inwards Las Vegas for the first of all time, and the Chinese New Year falling inwards Feb instead of January, as it did inward 2023.
The eight-day People’s Republic holiday officially ran from February 10-17. Las Vegas hosted Super Bowl LVIII on February 11.
Felt Fortunes
Unlike the United States market, Chinese players go for tabular array games to a greater extent than slots. The NGCB’s February news report demonstrated that, as statewide tabulate gritty revenue surged by to a greater extent than 24% patch slot win was up to a lesser extent than 1%.
On the Las Vegas Strip, tabulate spirited GGR was upwards yet more. Tables on the main hang back reported GGR of $419.7 million, a more than 30% year-over-year premium.
Baccarat, the gamey of select among the Asiatic clientele, skyrocketed 82% to $180.5 million. Baccarat outpaced blackjack, which won $107.8 million, a 21% improvement.
The Strip’s slots reported a 2.4% year-over-year GGR decline. Luck was to blame, as the casinos’ win place tumbled from to a greater extent than 8% inwards February 2023 to 7.7% last month. Craps win was upward 33% to $34.4 million, spell roulette players missed $24.4 million, a 28% year-over-year decrement as the wheel more favourite(a) the participant than it did a twelvemonth ago.
Oddsmakers on the Strip fared easily despite Super Bowl LVIII not exactly existence a super outcome for the books. Strip sports betting win was $24.7 million, a 10% growth from the prior February.
The KS City Chiefs’ 25-22 extra time win against the San Francisco 49ers generated a record handle of $185.6 million in Nevada. Oddsmakers statewide kept just now $6.8 gazillion of the activity as the public backed the Chiefs, and the legion of unexampled NFL fans brought to the mettlesome by Elizabeth Taylor Swift cheered on her boyfriend, Travis Kelce.
In all, Strip GGR totaled $800.7 million, up o'er 12%. Downtown Las Vegas casinos won $76.2 million, upwardly 3%.
Visitor Surge
The Las Vegas Convention and Visitors Authority (LVCVA) revealed in its Feb Executive Summary that Southern Nevada’s hosting of the NFL large gritty and the Chinese New Year delivered increased tourism. More than 3.37 million people ventured to Las Vegas, Laughlin, and Mesquite lastly month, which marked a 9.5% year-over-year climb.
Those visitors were met with a great deal higher nightly way rates. Strip casinos elevated their rooms before of the Super Bowl and the week-long Chinese New Year period. That resulted in an average every night room on the Strip costing almost $270 before taxes and resort fees.
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