Summary
- February gaming win totals marked two years of $1bn in monthly earnings.
- Clark County casinos reached the milestone itself for the 10th consecutive month.
- The monthly totals were over 11% higher than last year.
Casino gaming is booming in Nevada. For the past two years, operators have reported over $1 billion in gaming win from casino visits and this has many wondering if the significant milestone is the new normal.
The Nevada Gaming Control Board just released the February totals with the state earning over $1 billion yet again. This marks two years of hitting the total month to month.
Huge Gains for Casino Operators
All of the markets are doing well according the new gaming report, but specifically Clark County. Of course, this is the main area of gaming in the state, but still, the venues are racking up $1 billion in this area of the state alone. Regulators reported that the gaming win for February came in at $1.24 billion, which was more than 11% higher than February of last year.
Sparks also saw a good increase in earnings for the month, thanks to a new casino that was just added. Other areas saw a small decline, including South Lake Tahoe, North Lake Tahoe, Reno, and Washoe County.
For Clark County, the area has hit the $1 billion market for ten straight months. Out of the past 24 months, the county has reached the milestone 17 times. In December of last year, the Strip was able to earn a record-setting $814.2 million. Analysts are mindful that the Strip may be able to hit the billion-dollar mark on its own, which would be an amazing feat.
Breakdown of the Monthly Win
The main reason behind the earnings is the wins for the casino side and not the players. Slots were up $822.8 million, an increase in win by more than 7% from 2022. Coin-in was up over $11 billion. The slots won the casinos 7.2% more than 2022.
Card and table games were also up, with casinos winning over 14% more this year. Baccarat saw a huge win boost, with $102.5 million in earnings. This was an increase of more than 62%.
Sportsbooks also contributed to the win. Operators brought in over $41 million which was a significant increase of 33.5% in one year. Players wagered less, at $659.4 million with mobile wagers dropping over 21%.
We shall see in the coming months if the casinos will be able to maintain the billion-dollar momentum. Will casinos in the state continue to hit this milestone? The next few months seem promising as more people start to travel to areas like Las Vegas and Reno for weekend getaways or vacations.
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