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Nevada Casinos Fare Well In February

Post by Sadonna Price on -

Casinos in the state of Nevada continue to do well, with February reports showing that revenues have moved past the $1 billion mark for two months running. The Nevada Gaming Control Board released the February revenue totals, with the Chinese New Year helping the state to earn $1.02 billion for the month.

When reviewing the February 2018 totals with the same month last year, the state was able to see an increase of 7.7%. The month was quite successful for the state, marking the first time Nevada has hit the $1 billion dollar month two months running since 2008.

The Las Vegas Strip saw a nice monthly gain of 11.37%, with $603 million in winnings. This was the first time the area has seen gains since the mass shooting took place back in October. The Strip was successful due to baccarat gaming, of which $79.7 million was earned. This was a massive increase of more than 82%.

Sportsbooks took a hit for February with revenues down almost 50% for the month. Reports show $10.7 million was earned last month, which is far less than the $20.7 million earned in February of last year. Football wagering was down a massive 136+% but basketball was up, helping to even out the earnings.

Slot gaming was up for the state, with revenues coming in at $605.58 million for the month, an increase of just over 4%. Games and tables were up just over 13% with $412.33 million earned, with some games seeing declines.

Blackjack was down just over 17% while craps was down 12.33%. Roulette also saw a decrease for the month, but much lower at just 5.55%.

In total, the state was able to collect just over $44 million in percentage fees when reviewing the taxable revenues generated last month. This was a decrease of almost 15% from the prior year time frame when almost $52 million was collected.

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