Nevada has seen its revenue generated from the gambling industry increase during the course of April 2017. This is despite the fact that the state saw the number of visitors drop. While the increase is relatively small, it is actually more impressive than it seems, as April 2016 had seen plenty of big events happening.
Nevada Gaming Control Board Reports Increase
The news of the increase was reported by the Nevada Gaming Control Board, revealing that the state’s casinos brought in nearly $890 million dollars in April 2017. Is represents a 1.2% increase over April 2016, or $10.4 million.
As mentioned, this may sound like a relatively small increase, but April 2016 saw plenty of large events going on in Nevada. These included the new T-Mobile Arena opening, several high-profile concerts and the Manny Pacquiao fight. All of these events would have significantly increased visitor numbers and, as a result, gambling revenue. Without so many large events, it really does show how well the industry did in April 2017.
Visitor Numbers to Nevada Drop
Despite the increase in revenue, the state actually saw fewer visitors. It was reported that Las Vegas only saw around 3.5 million visitors in April. However, this is being attributed to normal fluctuations and the fact that several trade shows that normally take place in April did not occur. These include the National Auto Dealers Association show, which took place in New Orleans this year, as well as CinemaCon, which took place in March instead of April.
The casinos located on the Las Vegas strip saw their revenue drop by 3%, likely caused by the visitor fluctuations. The opposite happened in the downtown gambling locations, which saw heir revenues climb by just under 22%. Other parts of the state struggles a little in April, with Reno and Lake Tahoe seeing their revenue drop around 5%.
2024 Latest News: Nevada Records $185.6M Bet on Super Bowl LVIII
A new record was set in Nevada for betting on Super Bowl LVIII, with $185.6 million wagered across 182 legal sports books. This surpassed the previous record of $179.8 million. The game also achieved a record in viewership, with an estimated 123.4 million people watching it. Factors contributing to the high betting numbers included the popularity of teams like the San Francisco 49ers and the location of the game in Las Vegas. It’s worth noting that these figures only represent bets placed in Nevada, and with sports betting legal in many other states, more records are expected to be reported in the coming days and weeks.