Nevada Casinos Hit 12 Straight Months Of Billion-Dollar Gaming Wins

Nevada casinos astonished spectators by having another billion-dollar month of gaming victories in February.

For months, casinos have been raking in over a billion dollars from players. Although there’s no indication of this trend slowing down, it was always a possibility, especially during the shortest month of the year.

Despite February’s fewer days, Nevada casinos did not experience a slowdown in business. The shortest month of the year proved robust.

Nevada casinos have won more than a billion dollars from players for the 12th month in a row, with February being the most recent.

The Nevada Gaming Control Board’s (NGCB) revenue report for February indicates that casinos earned $1.113 billion from gambling activities, marking a 44.1% increase compared to the same month last year.

A record-breaking Super Bowl, held early in February, boosted Nevada’s gaming win. The Nevada Gaming Control Board (NGCB) reported that a record-setting $179.8 million was wagered on the major game, which saw the Los Angeles Rams triumph over the Cincinnati Bengals.

Even though Nevada hosted the NFL Pro Bowl, the NHL All-Star Game, and enjoyed substantial Super Bowl revenue, its sportsbooks only managed to win $30.9 million from $781 million in wagers in February. This resulted in a remarkably low hold of 3.96%.

Huge Gains On The Vegas Strip

Las Vegas is witnessing a surge in tourist numbers that hasn’t been seen for some time. February recorded a significant rise in traffic at Harry Reid International Airport compared to the same period last year.

This February, the airport witnessed a footfall of 3,343,562 passengers, which is over twice the number of 1,614,130 tourists who travelled to Las Vegas in the same month of 2021.

The significant surge in visitor traffic from the previous year contributed to supplying casinos with guests. This rise in visitation led to enormous profits for the properties on the Vegas Strip.

In February, Vegas Strip casinos experienced a gaming win of $599 million, a staggering 71.9% increase from the same period the previous year.

The resurgence of gamblers on the Vegas Strip throughout the last fiscal year (from July 1, 2021, to Feb. 28, 2022) has been extraordinary. The total gaming win across the state has risen by 56%. While this is already impressive, the performance of the casinos on the Vegas Strip is even more commendable.

The casinos located in the most popular tourist region of Las Vegas have experienced a 98.3% growth compared to the last fiscal year.

During the quarterly earnings calls, several casino executives expressed the possibility that February could serve as a springboard for prosperous months to come. They also projected a monthly rise in hotel room capacity estimates leading into the summer.

The rise in gas prices should not significantly reduce visitation to Las Vegas if history is any indication. Kevin Bagger, the Vice President of Research at Las Vegas Convention and Visitors Authority, informed the Nevada Independent that previous gas price surges have not substantially affected travel demand over the years.

The impact of higher global fuel prices will be evident in the March revenue reports and airport traffic data.