Key market recovery

Nevada casinos set all-time record $13.4B win in 2021; 10th straight month over $1B in Dec.

2022-01-28
United States
Reading time 1:53 min

The Nevada Gaming Control Board released a report on December’s numbers, which saw Nevada hit more than $1 billion in winnings for the 10th straight month, as the state continues to recover from the effects of the pandemic. The state's casinos reported an all-time record $13.4 billion in gambling revenue in 2021.

The monthly report released by the Board showed casinos won $1.15 billion in December 2021, which represented a 68% increase over December 2020. 

Michael Lawton, a senior research analyst for the Nevada Gaming Control Board, says that revenue increased last year across all areas of Nevada, with 11 out of 18 gambling markets setting gambling revenue records in 2021.

“The reasons for the record level of gaming win recorded this calendar year began with the successful rollout of vaccines, which eliminated capacity restrictions on the gaming floor,” Lawton said. Once restrictions were lifted, pent-up demand for gambling propelled Nevada on a record ten-month streak of more than $1 billion in monthly revenue. “This demand was being driven by healthy consumer savings as the result of stimulus payments and the sustained rebound of leisure travel,” says Lawton. “Additionally, the return of special events and entertainment continued to boost gaming win to record levels.”

Clark County, which accounted for the biggest chunk of the gaming revenue at $998 million, had a 79% increase from the previous year. 

Casinos along the Las Vegas Strip had the biggest increase in performance with a gaming win of $680 million, which was up 122% from December 2020. 

As for state taxes collected from the gaming revenue, Nevada received $68.2 million during the last month of the year. 

When it comes to sports betting, sportsbooks registered a 1.58% hold while reaching $1 billion in handle for the third straight month. The previous lowest monthly win rate for sports betting recorded in the state outside the pandemic was 1.66% in July 2018. 

Overall, sportsbooks registered $16 million in December revenue, the lowest total unaffected by the pandemic since collecting just $10.5 million in July 2019. The handle that month was $235.7 million, less than one-quarter December’s $1.01 billion. The latter figure is also the seventh-highest handle nationally in the post-PASPA era.

The Board also shared its Calendar Year 2021 report, showing a total gaming revenue of $13 billion, amounting to a 70.6% increase compared to 2020. Slot revenue for the year increased 70.5% in 2021, and accounted for 68.8% of the total yearly revenue. Table, counter and card games showed a rise of 70.7% year-over-year.

 

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