Is High Roller Baccarat behind Nevada’s Gambling Revenue Rise?
February saw Nevada’s gambling revenue grow 8.5% year-on-year to $1.34 billion, largely due to an increase in high roller baccarat players.
Revenue was 4.7% higher than January 2024’s $1.28 billion, which was the strongest January in Nevada’s history. The majority of revenue, $827.6 million, came from slots, up 0.6% from 2023. Most of this, $536.6 million, came from multi-denomination slots while the rest came from penny slot machines.
LISTEN TO THIS ARTICLE:As mentioned, there was a significant increase in baccarat revenue; it was up 75.5% at $180.1 million. Blackjack revenue grew 15.6% to $132.5 million and craps revenue increased 22% to $44.7 million.
There was also growth in Ultimate Texas Hold’em, which was up 4.4% at $18 million, and Pai Gow Poker, which was up 4.7% to $10.4 million.
A Strong Month for Nevada’s Sportsbooks
With Nevada hosting the Super Bowl betting madness in February at the Allegiant Stadium, it is no surprise that there was a 16% increase in sports pool revenue to $47.9 million. However, American football only brought in $12 million of this.
Basketball was the biggest money-maker for bookies, with revenue reaching $24.7 million. Hockey betting brought in $4.3 million and other sports betting brought in $7.7 million. It is also worth pointing out that baseball betting generated a $929,000 loss.
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Las Vegas Strip Revenue Grows
Revenue from the Las Vegas Strip reached $800.7 million, which represents a 12.4% increase year-on-year.
Slots revenue for February was slightly down at $381 million, a decrease of 2.4%. However, revenue was up from table, counter and card games. It reached $419.7 million, an increase of 30.3%. Once again, baccarat led the way with revenue growing 81.9% to $180.5 million. It was followed by blackjack revenue, which was up 20.8% at $107.8 million, and sports pool revenue, which grew 9.9% to $24.7 million.
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