Nevada sportsbooks enjoy strong start to 2021

| By Robin Harrison
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.
Las Vegas sign

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.