CASINO

Nevada sportsbooks resume their winning ways in April thanks to record handle

TAGs: Nevada, sports betting

nevada-sportsbooks-revenueNevada casino revenue fell for the second straight month in April, despite yet another stellar performance by the state’s sportsbooks.

According to figures released Thursday by the Nevada Gaming Control Board, statewide casino gaming revenue fell 2.4% to $876.1m in April. Things were slightly better on the Las Vegas Strip, where gaming revenue was off 1.5% to $491.2m.

Sportsbook revenue totaled $13.5m, a 70% leap from the same month last year. The gains restore the impressive hot streak the books had enjoyed in 2016 until March’s dire hold percentage spoiled the party. The books’ overall handle totaled $292m, $40m more than April 2015 and the best April result on record.

April’s sports gains were driven by basketball bettors, from whom the books collected just under $5m, up more than 136% from April 2015, while basketball betting handle set another record with $130.4m. The first month of Major League Baseball action generated $124.2m in handle, up around $30m year-on-year, while the books kept nearly $8m, 19% higher than the same month last year.

The books’ ‘other’ category also enjoyed a surge, rising nearly 40% to $5.2m thanks to in part to UFC 197. But the good showing was blunted by laggard football bettors cashing in over $4.7m worth of winning tickets. Race book revenue was up 8.9% to $3.7m.

As for the casinos’ primary moneymakers, slots revenue fell 5.7% to $567.4m, while baccarat was up nearly 10% to $104.9m and blackjack fell 3.7% to $78.7m.

The rest of the table tallies shook out as follows: craps ($28.3m, -5.9%), roulette ($23.7m, +6.2%), three-card poker ($12m, +1.8%), pai gow poker ($7.8m, -1.2%), mini-baccarat ($6.9m, -1.5%), let it ride ($3m, +11.2%) and keno ($2.2m, +12.2%), while poker games (which includes online poker revenue) were up less than 1% to $8.6m.

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