The gaming win in February was flat in Nevada, but it still managed to break through the $1 billion mark as reported by the Gaming Control Board of the state a couple of days ago. The board published the Win Revenue Summary for February 2019, which states that the gaming win in casinos all over the state was actually down by 0.62% for a total of $1.012 billion in February. The only area that saw an increase was Clark County, with a 0.44% increase and total revenue of $892.7.
However, all other areas, including the Strip, saw a decline. The Strip was actually hit pretty badly with a 1.95% decrease and a total of $591.7 million. However, there was a big earner in February as well, and that was Downtown Las Vegas, where a huge increase of 9% happened. The casinos there had a great performance in February with a total of $58 million.
Michael Lawton is the Senior Research Analyst for the Control Board of Nevada, and he stated for the Las Vegas Review-Journal that whenever there is $1 billion in income from gambling everyone needed to be pleased, despite the slight decrease that was noticed in February. In other words, he confirmed that there is nothing to worry about as a decrease of this type is not huge and the gaming industry still managed to earn a lot of money.
The Winter Problem
One of the main problems that many consider essential for the dip is the harsh winter that hit some of the areas in Nevada in February. One of the areas hit was Lake Tahoe, which reported a huge decrease for the month as severe winter weather affected their operations. According to Lawton, if the winter hadn’t affected this area, there wouldn’t have been the same type of dip in the state of Nevada. In other words, the revenues from gaming would have increased more in comparison to January.
The decline reported in the Lake Tahoe area is pretty huge, as Washoe County’s North Lake Tahoe area reported a 24.7% decline while the South Lake Tahoe Region reported a 26.6% dip. The thing with Lake Tahoe is that it is usually crowded with tourists during the President’s Day weekend on February 16 and 17. However, the key route to this area was closed off for motorists during that period, and California Highway Patrol urged everyone to minimize driving on Highway 50.
Sports Betting Has Been Doing Pretty Well
Compared to February last year, sports betting seems to be doing pretty well and improved for an amazing 235%, one of the reasons being the overturned PASPA, despite the fact that this type of gambling was already legal in Nevada before the Act was done away with. The amount of money Nevada earned via sports betting is $458.6 million, with most of the bets being connected to the Super Bowl.