«Harvest Time for Nevada Casinos
After a period of declines that lasted for two whole months Nevada casinos eventually managed to catch up on the loss and gained 7.9% in March. The results were announced by the Nevada Gaming Control Board last week. The report states that the $982.1m gain makes March the most profitable month of 2014. Las Vegas Strip was even more successful. It managed to gain 10.9%, which is $560.7m.
Earnings of table games improved which also led to improvement in the gambling revenue. However, it’s not yet time for Nevada State to relax. The first three months of 2014 were not generous at all. This year table game and slot game revenues were lower if compared to the results during the same period of time in 2013 (8.2% and 1% accordingly). Never before were data provided by land gambling facilities separated from that given by online casinos. Three online poker sites approved by Nevada’s authorities announced revenue of $926k last month, that’s a 12.2% increase compared to February’s numbers. It took Ultimate Poker, the first site-sanctioned site, 11 months to earn $9.4m. All in all, poker revenue, land casinos included, gained $10.4m last month, which is 0.5% more than a year before.
Blackjack took up a leading position with revenue of $105.9m (+6%), while baccarat accounted for a 40% increase ($101.8m). Craps gained $42.1m (+36%), with roulette profiting $30.7m (+-6.5%). Pai gow poker and pai gow made a total of $11.7m ($9.7m and $2m, which is +1% and +35.4% respectively). Three-card poker gained $15.2m (which is +0.5%). Revenue of $10.6m (+25.7%) belongs to mini-baccarat and bingo enjoyed a 16% rise ($1.2m). All other table games received $14.6m, which is +8.9%. Besides a 3.8% increase in slots revenue ($613.7m), there was a considerable fall in let it ride and keno revenue ($3.8m and $2.3m, which is -8.7% and -13.1% accordingly)
This year race books echoed their own revenue of March 2012 – $5m. Sports betting reports a 5% fall to $12.8m, $9.9m being cashed in by football fans. Basketball wagering reached its maximum of $343.5m. This happened due to the annual National Collegiate Athletic Association (NCAA) March Madness event. The bookmakers’ win rate, however, did not exceed 5.6%. The figures brought basketball revenue down 9.7%, which is $19.5m, making the percentage lowest in the past 9 years.