Nevada casinos top $1b revenue despite baccarat plunge

Nevada casino sportsbooks set a new monthly record for basketball betting handle in March, which helped push the state’s overall gaming revenue over the billion-dollar mark.

Figures released Thursday by the Nevada Gaming Control Board show statewide gaming revenue of $1.023b in March, which, despite topping the magical billion-dollar threshold for the second consecutive month, actually represents a 0.12% decrease from the same month last year. The billion-plus result also came despite gaming revenue at Las Vegas Strip casinos falling 3.8% to just under $552m.

The state’s slot machines had a solid month, with revenue up 5% to $675.3m. It was a much different story in the ‘table, counter and card games’ category, which reported revenue falling 8.75% to $347.7m. Most of that decline came courtesy of baccarat, which saw its revenue cut by more than half to $53.6m, thanks in part to volume falling 42% and a below-average win rate of just 11%.

By contrast, most of Nevada’s other table games were in positive territory, some of them dramatically so. Blackjack led the way with $108.4m (+13.8%) and craps improved 1.9% to $34.8m but roulette shot up a weighty 43.5% to $41.7m, the game’s second-highest total on record.