Nevada February revenue down 25.9% YoY after full year of Covid-19 impact

News  /  Published 26 Mar 2021  / 

Nevada gaming revenue came to $772.4m in February, the highest total since October 2020, but this was still down 25.9% year-on-year as the state experienced a 12th straight month of double-digit declines due to the novel coronavirus (Covid-19).

Slots brought in $530.8m of this revenue, down 18.2% from February 2020, as players staked $8.15bn. Multi-denomination slots continued to be the most popular form of slots, bringing in $250.3m, as players spent $4.67bn. These games proved to be among the most resilient following the impact of Covid-19, with revenue down just 9.1% year-on-year.

Penny slots followed, with revenue of $221.6m, down 20.5%, on stakes totaling $2.41bn. Dollar slots brought in $33.3m, down 36.5% and 25 cent slots $11.9m, a 41.8% decline.

Table games, meanwhile, produced revenue of $241.6m, down 38.7% from 2020, with stakes totaling $1.94bn. Both figures were up slightly from January.

Twenty one remained the most popular table game, with revenue of $68.1m – 34.7% below its 2020 revenue – on stakes worth $503.3m.

Baccarat, which was a distant second in January, closed the gap in February with revenue of $51.0m with stakes of $431.1m, as win rates normalised, but this was still down 56.3% year-on-year.

Craps brought in $26.8m, down 20.4% year-on-year, and roulette revenue was $18.0m, a 46.2% decline.

Looking at sports, meanwhile, players staked $553.8m, up 12.6%, but revenue declined, by 16.3% to $31.8m.

Of this revenue total, $10.2m was made online, up 2.9% year-on-year but less than half of January’s total as the other $21.6m came from retail bets. However, online handle was $315.8m, only slightly down from January.

Basketball made up the majority of betting revenue at $19.2m, up 46.3% year-on-year, as players staked $325.4m. Meanwhile, with the Super Bowl occurring in February, football bets came to $133.6m and revenue was $6.3m.

Hockey brought in $2.5m on bets worth $39.5m while sportsbooks lost $251,000 on baseball.

Parlay card revenue was $112,000, down 85.8% from February 2020 and 89.7% from January 2021.

Other sport revenue was $4.1m, from wagers worth $53.8m.

Gaming revenue from Clark County, which includes Las Vegas, was $631.5m, down 29.6% year-on-year.

Over the 12 months from March 2020 to February 2021, all of which were affected by the pandemic, total gaming revenue came to $7.33bn, down 39.5% from the previous 12 months.

 

Source: iGB North America