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Super Bowl Gives Nevada Sports Betting Revenue Huge Bump

Sports Betting Revenue Saves Nevada Casinos From Huge Revenue Decline In February

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Nevada casinos saw their second straight month of year-over-year revenue decline, but thanks to a huge win from the state’s sportsbooks, they still managed to win over $1 billion from gamblers in February.

According to data released by the Nevada Gaming Control Board on Thursday, Silver State casinos won $1.02 billion, down 0.62 percent from February 2018. In January, the state’s casinos saw a drop of three percent after coming up just shy of the $1 billion-mark and winning $984 million.

Sports bettors wagered $458.6 million at Nevada casinos in February, up about 10 percent from February 2018. The books won $35.8 million on those bets, a year-over-year increase of $25.1 million.

The Super Bowl was the driving force behind the sports betting increase. The books won $10.8 million on the Super Bowl alone, compared to just $1.2 million last year.

Northern Nevada casinos saw a decline in revenue, but that could easily be explained by some severe winter weather that was in the area in February. North Lake Tahoe casinos had a whopping 24.74 percent decrease year-over-year and casinos on the south side of the lake witnessed a 26.64 percent decline.

Clark County casinos won most of the money in the state, taking in $892.7 million in revenue. Casinos on The Strip won $591.7 million, down by 1.95 percent year-over-year, but up from January’s $532.25 million.

The nearly two percent drop for strip casinos can be accounted for by the $46.4 million drop in Baccarat revenue, which was a 26.33 percent drop from February 2018. If the baccarat numbers were the same as last year, strip casinos would have seen a year-over-year increase in revenue.