Nevada Casinos Close Out 2019 With $1.058 Billion WinSilver State Sportsbooks Set Another Record For Yearly Sports Betting Handle |
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Nevada casinos finished 2019 by winning $1.058 billion from gamblers in December, according to numbers released Thursday morning by the Nevada Gaming Control Board.
Those figures represented a 5.79 percent increase from December 2018, when the state’s casinos fell just shy of the $1 billion mark. For all of 2019, Silver State casinos won $12.032 billion.
Sports betting revenue made up $329.14 million of the 2019 gross gaming revenue from another record-setting handle. Nevada sportsbooks won that money off of $5.3 billion in total bets accepted. It is the 10th consecutive year of increases in the state’s sports betting handle and the second time in as many years that it topped the $5 billion mark.
Nevada just edged out New Jersey for the biggest sports betting market in the nation as Garden State sportsbooks accepted $4.6 billion in wagers in 2019.
More than 80 percent of New Jersey’s betting came from online books, but it is unknown exactly how much was wagered through Nevada’s online betting market. Michael Lawton, an analyst in the field, believes it accounts for less than half of all bets.
The revenue increase in December comes on the heels of a disappointing November, where casinos saw a 3.4 percent drop in revenue, due mostly from poor baccarat revenue. Baccarat, generally the game of choice for high rollers, experienced another decline in December and was down on the year as a whole.
In December, Baccarat revenue dropped 26 percent and was down 13 percent for all of 2019. Pai gow and racebook revenue were also down double digits on the year.
Geographically, the Las Vegas Strip made up the majority of the state’s revenue with $591.8 million, up 4.5 percent year-over-year. Clark County as a whole made up $917.5 million in revenue, up 6.56 percent from December 2019. Every region within Clark County saw revenue increases with North Las Vegas casinos experiencing the largest with a 23.14 percent jump.
Northern Nevada casinos didn’t experience the same increases. Reno casinos saw a 2.06 percent decline and North Lake Tahoe casinos had a state-worst 7.17 percent drop.
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