sports betting and casino revenue las vegas

For their part, downtown Las Vegas casinos saw a 10.6% gaming revenue jump to $74.5 million. Strip casinos were responsible for $624.7 million of the total revenue, a 5.2% increase from a year ago. Strip casino results drove the Silver State to a record gaming revenue total for April, with Nevada collecting a statewide revenue total of $1.2 billion, up 2.8% from a year ago and only the fifth time the state has collected $1B+ in that month. “I think we've got a strong foundation for continued growth.Nevada has topped the $1 billion gaming revenue mark for the 26th straight month, according to the latest data from the Nevada Gaming Control Board. “The economy faced a lot of headwinds over the last year or two, but our businesses continued to expand and to grow,” he says. When asked if 2023 will set another record, Clark remains cautiously optimistic.

“We got to see where that discretionary income goes and where it stays,” adds Bussmann. The worry now is that economic pressures could cut into discretionary spending. “It’s going to continue to percolate and the industry will be in a good position for 2023, regardless of what happens with the economy.” MORE FROM FORBES Will Macau Ever Be The World's Casino Capital Again? By Will Yakowiczīussmann says he expects a small slow down in 2023 due to economic headwinds but he believes the public’s views about gambling have evolved and it’s now seen as a form of entertainment, not a vice. “Not only has the industry bounced back from the pandemic but the industry has expanded,” says Bussmann. Sportsbooks across the state generated $1.4 billion off those wagers.īrendan Bussmann, the managing partner of B Global, a consulting firm focused on gaming and hospitality, says it’s a good sign that the industry racked up two years of record-setting revenue after getting crushed by the pandemic in 2020. In the Empire State, bettors wagered a total of $16.7 billion through mobile app during the market’s first year in operation, according to the New York State Gaming Commission. New York, meanwhile, has become the country’s largest sports betting market. The Silver State has also been on a remarkable winning streak as gamblers have spent more than $1 billion a month for 21 consecutive months. Through the first 11 months of 2022, casinos in Nevada generated $13.5 billion in gaming revenue, up 10.2% over 2021, according to the Nevada Gaming Control Board.

In Nevada, the country’s epicenter of gambling, the state’s casinos already broke last year’s historic revenue record of $13.4 billion by November.

Sports betting and casino revenue las vegas