Nevada has been on a winning streak for the past few years. This win became more recognizable when the casino revenue hit its highest gaming revenue of $ 1.128 billion in April 2022. Now a year from the first month the state recorded a $1 billion revenue, casinos have topped that revenue.
The casino revenue for April 2023 hit $1.159 billion. This was almost a 3 percent increase in April 2022. Also, it was the 26th month in a row that Nevada casinos generated over $1 billion.
This is not the only winning streak Nevada has had. From October 2006 to May 2007, the Silver State had an eight-month streak, in which casinos generated more than $1 billion in revenue. According to the Nevada Gaming Control Board, April 2023 figures mark the best April for the state.
Clark County Performance
It is no surprise that casino venues on the Strip generated most of April’s revenue. However, operators on the Strip can tap their backs after stopping the revenue decline seen in March 2023.
The month-over-month figures are still down. However, the Strip casinos generated $624 million, which is more than 7.94 percent in April last year.
Strip casinos recorded a 40 percent decline in Baccarat revenue in March. This decline has slowed to 11 percent in April.
Baccarat is a favorite game among Asians who visit Las Vegas. Unfortunately, Asians are yet to come visit in large numbers as they did before the Coronavirus pandemic.
As always, slot machines generated most of the revenue in Las Vegas casinos. The revenue was over five percent up, landing at $370 million.
Meanwhile, the rise in popularity of other games also contributed to the revenue growth. For instance, Craps generated $27 million in April 2023, a 17 percent growth from last April.
Outside the Strip are Downtown Las Vegas casino venues that generate $74 million. Meanwhile, casinos in Boulder City brought in $76 million.
Ideally, the total revenue for Clark County casinos was $995 million, which is about 85 percent of the total revenue for April. Washoe County casinos came in second with $87 million.
Mobile Betting
Nevada was the first state to allow legal sports betting. The state casinos offer sports betting, but mobile betting seems like the preferred option among bettors.
For instance, online betting generated over $18 million. This was a 76 percent growth in April last year. Most of this year’s April handle was placed on mobile phones.
Parlay betting was also profitable for some bettors. The figures show that betting operators paid over $106,000 to parlay bets. This was a -108 percent win percentage.
Ideally, April 2023 sports handle was $598 million. Betting operators earned $32.4 million, a 5.4 percent growth in April last year.
An increase in the number of visitors may have contributed to the revenue growth. Bet, the official figure is not out.
The data from Harry Reid International Airport shows over 4.8 million people passed through Las Vegas in April. While this figure is 12.8 percent better than last year, the numbers are still down from March 2023.
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