Nevada Gaming Revenues Nearly Flat in February

Today the Nevada Gaming Control Board released the state's financial results for February, noting that revenues were flat but still managed to eclipse a billion dollars for the period.

The state's casinos brought in $1.02 billion during the month, down 0.62% from the year prior. Lake Tahoe revenues were down 24.7% to $1.4 million, while Las Vegas Strip revenues were down 2% to $591.7 million, largely due to bad baccarat results, as VIP gamblers proved to be quite lucky. The Super Bowl took place during the month though, which helped pad results a bit, as sportsbook revenues were up $25.1 million.

The state hauled in $59.6 million in tax revenues, which is up 35% from last year.

Winter weather hit Nevada hard during the month, as snow fell in Las Vegas, a rare event that keeps punters from venturing out.

Speaking about the results NGCB Analyst Michael Lawton shared: "We had really severe weather in northern Nevada ... In all fairness, if that weather wasn't so severe, the state probably would have been up. Those markets every weekend it seemed like there was a large winter storm that impacted visitation and travel."

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