revenue – FairOdds Network

April 1, 2025

Sans Super Bowl, Nevada gaming revenue slides 9% in February

Nevada's gaming industry watched the Super Bowl from afar this February instead of hosting it and revenue fell 9% year-on-year as a result.

According to data from the Nevada Gaming Control Board published on Monday (31 March), the state brought in $1.21 billion (£936.5 million/€1.12 billion) in monthly gross gaming revenue (GGR). That represents a decrease of just under 10% from last February’s mark of $1.34 billion. The marked decrease is most easily attributable to the Super Bowl, which was estimated to have generated $1 billion in economic impact for the region last year.

For the fiscal year to date, Nevada gaming overall is down 1.1% year-on-year. February’s figures are a stark contrast from January, which, at $1.43 billion, was the second-highest monthly total ever.

Decreases were posted in nearly every market, most notably the Las Vegas Strip. America’s gambling capital posted $690.3 million in February GGR, down 14% YoY. The Strip’s record-breaking post-Covid run could ..

February 28, 2025

Strip comes roaring back as Nevada posts second-best month ever in January

This year kicked off with a bang for Nevada gaming, as the state posted its second-best monthly total ever, led by the Las Vegas Strip.

According to Nevada Gaming Control Board data released on Thursday (27 February), the state posted $1.43 billion (£1.13 billion/€1.38 billion) in gross gaming revenue (GGR) in January. That is a 12.5% year-on-year increase and the second-highest monthly total ever, behind last December’s $1.46 billion. The Silver State is now flat for the fiscal year to date.

In welcome news for the industry, the Las Vegas Strip bucked its streak of six straight months of YoY decreases. America’s gaming capital posted $840 million in GGR, up 22.4% from last year. January was its third-best month of all time, behind the two previous Decembers ($905 million in 2023, $881.2 million in 2024). This strong result was enough to bring the Strip up to -1.6% for the FY so far, despite the down months.

In a reversal of previous trends, downtown Las Vegas posted a 2% YoY dec..

February 3, 2025

Virginia sports betting handle up in December but AGR well off record

Virginia reported a 23.4% year-on-year decline in sports betting adjusted gross revenue (AGR) for December, despite an increase in player spending.

The Virginia Lottery reported on 31 January that AGR in December amounted to $43.9 million (£35.6 million/€42.8 million). This falls short of $57.2 million in the previous year and 45.5% of November’s $80.6 million record.

All AGR in December came from online betting, with retail sports wagering at casinos leaving a $12,883 loss.

Virginia players spend $729.5 million on betting

As for spending, total handle for December was $734.4 million. This beats the previous year by 16% but is 3.5% behind the record $761 million bet in November. It is, however, the second-highest monthly amount on record.

Players wagered $729.5 million online during December and a further $4.9 million at retail facilities inside casinos.

This resulted in a state-wide hold of 5.98% for the month. Player winnings in December hit $684.8 million.

Tax tops $6.6 mill..

February 3, 2025

In rare occurrence, Nevada gaming positive in December, YoY despite Strip decline

The latest round of data from the Nevada Gaming Control Board, released on 30 January, showed that the state's gaming industry was positive year-over-year for December and 2024 as a whole, despite Strip declines for each.

The Nevada December revenue report showed that gross gaming revenue (GGR) totalled $1.46 billion (£1.17 billion/€1.4 billion) for the month, up 2% from last year. For 2024, the total was $15.6 billion, a slight (+0.55%) uptick from calendar year 2023. That represents the fourth consecutive record-setting calendar year for the Silver State, following the drudges of the 2020 Covid pandemic.

But perhaps the most interesting thing about those increases was that they came despite declines from the Las Vegas Strip, the economic driver of the state. In December, the Strip posted $881.2 million in GGR, down 2.6% YoY, its sixth consecutive monthly decline.

For the fiscal year-to-date (1 July-31 December), the Strip is down more than 5%, the most of the state’s major..

January 10, 2025

Las Vegas Strip revenue declines continue as Nevada posts 4% YoY decrease in November

The Las Vegas Strip posted its fifth consecutive monthly year-on-year revenue decline in November, with the state overall posting a 4.2% drop from last year.

According to figures from the Nevada Gaming Control Board (NGCB) released on 9 January, the state’s gaming industry posted $1.31 billion (£1.07 billion/€1.27 billion) in gross gaming revenue (GGR) in November. The 4.2% YoY decline is the fourth for the state out of the last five months. But this is somewhat qualified by the fact that FY24 was the best ever.

So far in FY25, Nevada gaming is down 2.8% from this point last year, per the NGCB.

The most notable figures from November came from the Las Vegas Strip. America’s gaming capital posted $788.7 million in GGR for the month, down just under 4% from last year. This is the first definitive proof that the second edition of the Formula One Las Vegas Grand Prix did not live up to the inaugural race last November, although local officials had already acknowledged that to be the c..

December 11, 2024

Illinois FY24 gambling report: Tax revenue over $2 billion, but casinos not key drivers

Data from the fiscal year 2024 edition of the Wagering in Illinois report from the legislature's Commission on Government Forecasting and Accountability showed that the state's gaming industry generated a record $2.08 billion (£1.62 billion/€1.97 billion) in tax revenue in FY24, the most ever for the Prairie State.

According to the report, state tax revenue grew 4.8% year-over-year from $1.99 billion in FY23. Illinois has one of the strongest gaming industries in the US, with casino gaming, video gaming (slot routes), sports betting, horse racing and lottery.

The report covers not just the last fiscal year, but references financial reports dating back to legalisation dates for each genre of gambling.

The commission noted that FY24’s growth was “largely driven by the steady expansion of video gaming, elevated lottery sales and rapid growth in sports wagering”. The first two sectors generated the majority of tax revenues – $886 million from the lottery and $848 million fr..

December 6, 2024

New York sets $231.6 million online sports betting revenue record in November

Mobile sports betting gross gaming revenue in New York reached a monthly record of $231.6 million (£181.6 million/€219.0 million) during November, while handle fell just short of the state’s all-time high.

Revenue from online sports betting was 53.5% higher than $150.9 million in November last year. It also surpassed the $176.3 million posted in New York in October this year by 31.4% and beat the state’s existing record – $211.5 million in January – by 9.5%.

Spending-wise, data from the New York State Gaming Commission reveals monthly handle for November hit $2.27 billion. This is the second-highest monthly amount on record since the state launch legal online betting in January 2022.

November’s handle total is 7.6% more than last year but fell 2.2% short of October’s record $2.32 billion spend. As for hold, the state-wide total for the month was 10.22%, a marked improvement from 7.60% in October.

FanDuel pulls further clear of DraftKings in New York

Looking now to operators, there..

December 4, 2024

Las Vegas Strip revenue slides 3% in October for fourth straight YoY decline

October gambling revenue figures released today (4 December) by the Nevada Gaming Control Board (NGCB) showed that the state brought in $1.28 billion (£1 billion/€1.2 billion) in gross gaming revenue (GGR) for the month, a year-over-year decline of just over 2%.

Figures for the Las Vegas Strip were the highlight of the report, but not for good reasons. The Strip’s October GGR total of $692 million was a 3% drop year-over-year. That’s the fourth consecutive month of year-over-year declines for America’s gaming capital, which had its best year ever in 2023. For the fiscal year-to-date, the Strip is down more than 6%.

Strip slot revenue ($428.3 million) was up 5.5%, but table games (-14.5%) were tricky again in October. Baccarat revenue, which has become a boom-or-bust category that spurred records last year, plummeted 23.4% to $68.7 million. The Strip is down 33% on the game in the last three months.

Downtown Las Vegas had the worst month of all the southern Nevada markets. Its GGR..

November 21, 2024

Massachusetts sets $748.1 million sports betting handle record in October

Consumers in Massachusetts spent $748.1 million (£591.9 million/€710.8 million) betting on sports during October, a new monthly handle record for the Bay state.

The October figure surpasses the exiting record of $678.7 million, which was just set in September, by 10.2%. It is also 30.8% ahead of $571.8 million last year, according to the Massachusetts Gaming Commission.

Players wagered $735.0 million betting online and $13.1 million at retail sportsbooks across the state.

In terms of taxable revenue, operators generated $48.3 million in total for October. This falls 20.3% short of $60.6 million last year and lags 35.9% behind September’s record $75.4 million haul.

Online betting was responsible for almost all revenue, with retail contributing just $5,286 in October. As for hold, the state-wide figure for the month stood at 6.46%. Tax-wise, Massachusetts collected $9.7 million from sports betting, almost all of which related to online wagering.

Can anyone stop DraftKings in Massach..

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Tag: revenue