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US – Basketball and baccarat drive Nevada’s third consecutive billion dollar month

By - 4 May 2018

Basket ball and baccarat helped Nevada casinos to their third consecutive month of billion dollar gaming revenue in March despite visitation remaining flat.

The Nevada Gaming Control Board confirmed that Nevada’s GGR was up 3.4 per cent to $1.024bn in March. Clark County saw a 3.6 per cent increase as it brought in $888.3m whilst casinos on the Strip generated $573.9m, marking an increase of 9.1 per cent from March 2017.

Strip baccarat generated $116.7m in March, up 114.8 per cent from last year.

Michael Lawton, Senior Research Analyst for the Tax and License Division of the Control Board, said: “For the Strip, the story was an extremely strong baccarat month in both volume and win. The Strip has now recorded consecutive increases after four consecutive decreases and is up 3.3 per cent for the calendar year.”

Mr. Lawton said sportsbooks won $34.2m an increase of 8.7 per cent from March last year. Sports fans bet a total of $521.6m, a record high for the month of March. The increase actually marked the seventh consecutive year that Nevada sports books recorded record basketball betting handle in March.

“Obviously, that was driven by basketball,” Mr. Lawton said. “Basketball betting volumes were $436.6m, that’s an all-time record for basketball for any month ever, and of course, a lot of that activity was driven by the NCAA basketball tournament.”

March was the 38th time that Nevada has generated more than $1bn in monthly revenue.

Visitation to Las Vegas continued to slide however with March’s 0.9 per cent decrease marking the 10th straight month in which this year’s figures fell short of last year’s.

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