The state of Nevada and growing Las Vegas gambling revenue has set another monthly record! Gaming revenue for the month of February came to $1.24 billion! This marks a significant increase from the previous year, as Sin City resorts and casinos throughout the state continue to recover from the impact of the COVID-19 pandemic.
The latest figures from the state’s Gaming Control Board indicate a 6.7% rise in gaming revenue compared to the same period last year. This is particularly impressive given that February 2022 was a leap year, meaning that there was an extra day of gaming activity in that month. When adjusted for the leap year, the year-over-year increase in revenue is even higher, at 11.4%.
The state’s casinos were forced to shut down for several weeks in early 2020 as a result of the pandemic. When they reopened, they were subject to strict capacity limits and other safety measures, which had a significant impact on revenue. However, the rollout of vaccines and the relaxation of restrictions has allowed both the state and Las Vegas gambling revenue to bounce back in recent months.
Nevada’s success in February was driven by strong performances from both the Vegas Strip and downtown area. The Strip, which is home to many of the world’s most famous casinos, reported a 5.5% increase in gaming revenue compared to the same period last year. Downtown Las Vegas, which is popular with locals and tourists alike, saw an even bigger increase of 10.2%. The state’s sportsbooks also had a strong month, with a total of $31.5 million in revenue. This was largely driven by the Super Bowl, which is one of the biggest betting events of the year.
Overall, the latest figures from Nevada are a positive sign for the state’s gaming industry. While the impact of the pandemic is still being felt in many parts of the world, it appears that casino profits all across the state, as well as most of the Las Vegas gambling revenue, are well on their way to recovery. With the rollout of vaccines continuing and restrictions being lifted, it is possible that we could see further growth in the coming months.
