Nevada casinos extend monthly billion-dollar revenue streak to two years with $1.23 billion in revenue in February
Gross revenue for Nevada’s gambling sector was more than $1.23 billion (R103.04 billion) in February. It becomes the 24th consecutive month in which the state’s gambling sector has earned at least one billion dollars. The previous record – eight months in a row – was held from October 2006 to May 2007.
Nevada Gaming Regulator senior economic analyst Michael Lawton called this amount of revenue the new normal for the richest gambling jurisdiction in the world. He noted, I think after 24 straight months, it’s safe to say it is. The state’s February gross revenue (GGR) was 11 percent higher than the same month in 2022 and 22 percent higher than the $1.01 billion (R84.61 billion) in February 2019.
Nevada’s most profitable region has been Clark County, where Las Vegas is located, for 10 consecutive months and a total of 17 times in the last two years. For February 2023, local revenue was $1.07 billion (R89.64 billion), up nearly 14% from a year earlier. Sin City accounted for about $712.5 million (59.69 billion rubles). This is almost 19% more than a year ago.
According to Lawton, many are now waiting to see if the Las Vegas Strip alone can surpass the $1 billion mark. The closest Boulevard came to that goal was in December. At that time, GGR exceeded $814.1 million (R68.2 billion).
Record results were also reported by Harry Reid Airport, Las Vegas’ main commercial air hub. In February of this year, its occupancy exceeded last February’s figure by 25%. The number of international flights more than doubled last month, in particular due to the opening of borders with China. Harry Reid International also handled 3.9 million domestic passengers in February, a 22.5 percent increase over the same period last year.
Meanwhile, Caesars Entertainment and Century Casinos are not losing demand in the face of macroeconomic challenges – Macquarie.
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