Nevada Gambling Revenues Hit $1.3 Billion in October as Billion-Dollar Streak Continues

The Nevada Gaming Control Board (NGCB) has released its latest monthly revenue report revealing that the state’s casinos reported combined revenues of $1.3 billion during the month of October.
October marks 32nd billion-dollar month in a row

According to the report, combined revenues generated by NV casinos during the month mark an increase of 2.69% year-on-year and a 3.14% increase on the $1.27 billion reported during September. The latest total was also 42.4% higher than the same month in 2019 before the global pandemic. This means that the state has now reported more than a billion dollars in revenue for the 32nd month in a row.

Revenues on the Strip came to $714.4 million, an increase of 1.23% on the same period in 2022 and a decrease of 3.6% on the $741.2 million reported in the previous month.

According to the report, statewide slots revenue came to $894.8 million up by 2% year-on-year while table gaming increased by 4.17% to $420.2 million.

Gaming revenues for the first ten months of 2023 is up 3.5% year-on-year putting the state on track to beat last year’s record revenue total of $14.8 billion for the calendar year. Strip revenue is up by 5.4% for the same period.

Taxes collect during the reporting period came to $83.1 million marking an increase of 8.72% year-on-year.

Sports betting

Nevada sports betting operators reported $68.1 million in revenue during October, representing an increase of 19.9% compared to October 2022. This was the third highest revenue figure in the post-PASPA era and a 9.5% increase over the previous month. Overall wagers grew from $811.1 million in September to $815.6 million in October.

Bets placed through mobile apps and online sportsbooks accounted for 65.8% of all sports wagers during the month.

Year-to-Date Sports Handle, Revenues & Taxes in Nevada

Nevada Gambling Revenues Hit $1.3 Billion in October as Billion-Dollar Streak ContinuesTotal HandleNevada Gambling Revenues Hit $1.3 Billion in October as Billion-Dollar Streak ContinuesMobile Handle %Sportsbook RevenueWin %State Taxes Jan 2023$935,788,497$581,606,55762.15%$50,439,0005.39%$3,404,633Feb 2023$659,361,022$402,276,02961.01%$41,276,0006.26%$2,786,130Mar 2023$830,511,364$530,228,69063.84%$43,851,0005.28%$2,959,943Apr 2023$598,044,280$395,191,48966.08%$32,414,0005.42%$2,187,945May 2023$527,438,596$358,114,75467.90%$30,064,0005.70%$2,029,320Jun 2023$479,949,495$323,959,73267.50%$9,503,0001.98%$641,453Jul 2023$407,996,769$268,174,75765.73%$25,255,0006.19%$1,704,713Aug 2023$431,002,381$316,762,59073.49%$18,102,0004.20%$1,221,885Sep 2023$811,158,854$539,217,87766.47%$62,297,0007.68%$4,205,024Oct 2023$815,676,646$536,906,58465.82%$68,109,0008.35%$4,597,331Totals$6,496,927,904$4,252,439,05966.00%$381,310,0005.65%$25,738,377

Ciaran McEneaney

Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.