Nevada Casinos Won $11.5B From Gamblers In 2017Market For Gambling Grows About 2.8 Percent Last Year |
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Gamblers in Nevada’s 300-plus casinos left behind $11.5 billion in 2017, according to figures from Nevada gaming regulators made public Wednesday.
The winnings were 2.8 percent better than 2016. Slot machine revenue of about $7.4 billion was a 3.75 percent increase year-over-year. The tables games and sports betting generated roughly $4.1 billion, up 1.1 percent compared to the previous year.
Penny slots alone accounted for $3.1 billion of the statewide gaming win. The top table game in terms of revenue was blackjack, which generated $1.2 billion (5.4 percent increase). Baccarat was close behind with $1.15 billion, as revenue for that game dropped 5.6 percent compared to 2016. Baccarat’s decline played a role in a casino just off the Las Vegas Strip deciding to close earlier this year. It was the first Strip-area casino to be built since the Great Recession.
Both craps and roulette saw more modest gains, with revenues of $393.5 million and $367.3 million, respectively. Sports betting wasn’t too far behind those two games, as Silver State sports books were up $248.7 million on total wagers of $4.8 billion. Sports betting revenue was up 13.5 percent on the year and set a new benchmark for the books.
Nevada poker rooms generated $118.4 million from their cash games, which was virtually flat compared to 2016. The state’s regulated online poker market is included in that figure.
The all-time high for Nevada’s gaming win was the $12.8 billion generated in 2007. Revenue fell about 10 percent in each of the next two years, before it slowly started to crawl back up as the U.S. economy strengthened. Las Vegas’ McCarran International Airport announced last month that it had a record 48.5 million passengers last year, beating the previous high set in 2007.
It is worth noting that the Las Vegas Convention and Visitors Authority said last month that visitor volume to America’s gambling hub actually fell slightly last year. That’s according to preliminary data that includes visitor volume by motor vehicle.
While the Nevada casino industry is inching closer to its winnings before the Great Recession, the success of the state’s casino-hotel sector as a whole has never been greater. Total revenue, which includes gambling, hotels, drinks, food and entertainment, was more than $26 billion in the most recently completed fiscal year. That’s an all-time high for the state, beating the previous record set in FY 2007. The casinos reported net income of $1.55 billion on the $26 billion.
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