{"id":35672,"date":"2020-05-04T16:40:26","date_gmt":"2020-05-04T16:40:26","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=35672"},"modified":"2020-05-05T14:44:17","modified_gmt":"2020-05-05T14:44:17","slug":"nevada-casino-gaming-revenue-plummets-down-40-in-march","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/nevada-casino-gaming-revenue-plummets-down-40-in-march\/","title":{"rendered":"Nevada Casino Gaming Revenue Plummets Down 40% In March"},"content":{"rendered":"

Last week the Nevada Gaming Control Board<\/strong> reported<\/a> that the amount of money won by Nevada casinos in March fell by almost 40%<\/strong> compared to the same period last year. Gaming revenue for the state was $618 million<\/strong> in March. That\u2019s a decrease of 39.57% from March 2019 when casinos won $1.022 billion.<\/p>\n

The reason for the huge decrease in gaming revenue for Nevada is the closure of all casinos in the state on March 17 to help slow the spread of coronavirus.<\/p>\n

Different drops for different regions<\/span><\/h2>\n

Nevada casinos in different parts of the state have different types of customers. In fact, even casinos in the Las Vegas area have various gambling guests<\/strong>. High rollers and large casino corporations dominate the Vegas Strip. Downtown Las Vegas and the suburban casinos cater to a variety of tourists and residents.<\/p>\n

Not only are there different casino operators, but the guests play varying games and have varying budgets. Casinos on the Vegas Strip won $299.9 million from gaming customers in March. That\u2019s a decrease of 45.67% from last year.<\/p>\n

Meanwhile, casinos in downtown Las Vegas weren\u2019t hit as hard on a percentage basis. These casinos won $43 million. That\u2019s only<\/em>\u00a0a decrease of 25.92% from the previous year.<\/p>\n

Nevada sports betting demolished<\/span><\/h2>\n

The amount of money won by Nevada sportsbooks<\/strong> was crushed before casinos were even closed. The NBA suspended its season<\/a> five days before casinos were told to close their doors. Other major sports, including the NCAA basketball tournament, aka March Madness<\/strong>, followed the NBA\u2019s lead.<\/p>\n

March is chock full of college basketball games for bettors. Between the large volume of college basketball conference tournament games and the 63 games (plus play-in games) during March Madness, Nevada sportsbooks lost one of the largest cash generators of the year. For comparison, the entire NCAA basketball tournament typically sees as much money wagered as the Super Bowl.<\/p>\n

Nevada sportsbooks saw a massive 76.3% decrease in its sports betting handle<\/strong> compared to last March. It was the lowest monthly handle for Nevada since 1993<\/strong>. March Madness typically draws less-experienced sports bettors, which means that sportsbooks typically win more of the wagers placed.<\/p>\n

Without March Madness, Nevada sportsbooks only won $1.5 million<\/strong> from $141 million wagered in March \u2014 a 95.5% drop from a year ago.<\/p>\n

April gaming revenue will be much worse<\/span><\/h2>\n

April\u2019s gaming revenue in Nevada will be much worse. While casinos were closed in the middle of March, they\u2019ve remained closed for the entire month of April. Additionally, video poker and slot machines in bars, taverns, supermarkets and gas stations have also been turned off.<\/p>\n

The only gaming revenue in Nevada for the month will come from one of the following sports wagering apps that remained open for the month:<\/p>\n