In March Nevada casinos and sportsbooks brought in revenues of $1.023 billion, setting a new record for basketball wagers while also posting strong slot growth.
Slot machine revenues were up 5% to $675.3 million, but table game revenues were down 8.75% to $347.7 million. The big fall for table games was that baccarat revenues were down by more than 50% to just $53.6 million, due in large part to a lower win rate. Blackjack did have a positive result, with $108.4 million in revenues, up 13.8% from last year.
Sportsbetting revenues were down 4.8% to $32.5 million, which was largely due to punters redeeming football bet tickets. Basketball bettors did generate a lot of handle, as there were $596.8 million in wagers, up 14.4%. In fact, basketball wagers were $495.1 million, a new record. $35.2 million in revenues were generated from those bets.
Las Vegas is seeing increased competition in the world of sportsbetting, as additional states begin legalizing the activity within their borders. This means that punters don't have to travel to the Silver State to place their bets. Still, it appears that the activity remains popular in Vegas, as those visiting are keen to put in their tickets for a chance to win big.
That's definitely an interesting numbers there, I think this is just the start for the sportsbetting growth in Nevada as well as other states in US and not only when it's about the March madness college basketball stakes.