Tables and slots were hot in Nevada in January with casinos posting just over $1 billion in revenue, a 5.5 percent increase from January 2019, when revenues were reported at just under $990 million, according to the Nevada Gaming Control Board.
The board reports that in the fiscal year beginning July 1 through Jan. 31, the state's gaming revenue increased 2.6 percent. Revenues in Clark County rose to $904.5 million. Casinos along Freemont Street posted a 13.5 percent increase in January to $59.1 million.
According to Gaming Today, the Las Vegas Strip posted gains of 7.49 percent, reaching $572.1 million. Casinos along the Boulder Strip and North Las Vegas posted declines in gaming revenue.
Baccarat revenues and handles increased, and this increased Strip revenues.
“The timing of Chinese New Year likely played a key role with baccarat revenues up 16 percent as volumes were plus 69 percent more than offsetting hold [of] minus 543 basis points year-over-year,” Barry Jonas, an analyst with SunTrust Robinson Humphrey, wrote in a research report. “Excluding baccarat, table win was up 6 percent year-over-year. Slot win was up 5 percent, year-over-year, with handle up 11 percent.”
Gaming revenues also increased in northern Nevada, with Reno reporting a 7.5 percent increase to $47.5 million and South Lake Tahoe reporting an increase of 17.9 percent to $20.1 million.
For the first time, mobile sports betting data is included in the Gaming Control Board's report. Mobile wagers made on phones, tablets and computers made up 48.9 percent of all sports bets made in the state last month. Wagers on mobile apps accounted for $11.2 million in revenue from $245.8 million in bets.