Nevada gambling revenue tops $1B for third month

Casinos in Nevada crossed the $1 billion revenue mark for the third consecutive month in March, a streak that the state had not seen since 2008.

Data released Monday by the Nevada Gaming Control Board show casinos statewide earned about $1.03 billion from gamblers in March, a 3.4 percent yearover-year increase. The so-called “gaming win” increase came in a month that saw an exceptionally strong baccarat performance and had a favorable calendar with an additional weekend day over March 2017 and a series of events.

“That’s good news. Absolutely, good news,” Mike Lawton, senior analyst with the control board, said of the statewide winnings. “... A billion dollars, that’s a big deal.”

He said the longest billion-dollar streak lasted eight months, from October 2006 to May 2007.

Game and table winnings, which included baccarat, were $381 million, an increase of 13.5 percent when compared to March of last year. Winnings specifically from baccarat — the card game that can be a windfall or whiplash for casinos — increased to $117.2 million, up $58.8 million or 110.6 percent. Baccarat volume was $835.8 million, up $258.4 million or 44.8 percent.

Lawton said the statewide total win without baccarat would have actually decreased 2.7 percent or $25.4 million.

The calendar of events for last month included the UFC 222 show, a Kid Rock concert at the Mandalay Bay Events Center and performances by Chris Stapleton at the MGM Grand Garden Arena and in Laughlin, Nevada.

The agency responsible for promoting Las Vegas on Tuesday also reported the city saw a decrease in visitation of 0.9 percent in March. The Las Vegas Convention and Visitors Authority reported that more than 3.7 million people visited the destination. /