Nevada Casinos Start 2020 With 10-Figure WinSilver State Casinos Generate $1.083 Billion In Revenue In January |
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Nevada casinos got off to a fast start in 2020 with a huge uptick in revenue.
According to numbers released by the Nevada Gaming Control Board, Silver State casinos won $1.038 billion from gamblers in January. It represents a 5.5 percent year-over-year increase.
Clark County made up nearly all of that revenue, taking in $904.6 million of the 10-figure revenue. Strip casinos were up 7.5 percent with $572.1 million in revenue and Downtown Las Vegas saw a 13.5 percent jump with $49.1 million in winnings.
A strong showing from baccarat tables, a game that is one of the choices of high rollers, along with the Chinese New Year, helped spark the revenue increase. Michael Lawton, a senior analyst for the Control Board, told the Las Vegas Review-Journal that it should be noted that last year, Chinese New Year came in February.
“The baccarat win and volume amounts are impressive compared to last January, however it should be noted that the Chinese New Year holiday events were held during the week of Jan. 25 this year compared to Feb. 5 last year,” said Lawton.
The Lunar New Year celebrations generally impact the Las Vegas Strip and Downtown areas more than the rest of Clark County. Boulder Strip was down 12.22 percent and North Las Vegas casinos lost 9.15 percent in revenue. North Lake Tahoe experienced a 6.85 percent revenue drop as well.
South Lake Tahoe saw the biggest percentage gain in January with a 17.93 percent jump.
Sports betting revenue was up 36 percent from 2019 with $20.1 million in revenue on a $502.5 million handle. January 2020 was the first time that the Control Board released mobile betting numbers for Nevada. Those figures showed that mobile bettors made up 49 percent of the handle.
That figure lags far behind New Jersey, where mobile betting makes up more than 80 percent of the total handle. In Nevada, however, in-person registration is required for a mobile betting account, which should dampen the mobile market slightly.
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