Nevada sportsbooks enjoy strong start to 2021

Nevada gaming revenue improved month-over-month in January, though lagged behind prior year levels, while the state’s sportsbooks posted strong figures for the month.

January revenue across all products and services came to $761.8m, which represented an 11.4% improvement from December 2020. However, it also represented a 26.6% year-on-year decline.

This broke down to $526.5m from slots across all outlets – down 26.7% from January 2020 – while table, counter and card games revenue fell 35.6% to $235.4m.

The table, counter and card games segment did include strong returns from the state’s sportsbooks, with revenue up 159.9% at $52.4m.

Sports betting was one of the few products in this category to post year-on-year growth, and its contribution was the second highest of any product after blackjack, which generated revenue of $55.0m.

Based on an 8.10% hold percentage, this suggested stakes for the month totalled $646.7m, a 28.7% increase. Mobile wagering accounted for $363.7m of amounts wagered, and $23.1m of revenue.

This meant that Nevada lagged far behind New Jersey, where revenue of $82.6msmashed the state’s previous monthly record.

Handle in the Garden State was also significantly higher at $948.7m – and that represented a month-on-month decline.

Read the full story on iGB North America.

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