Nevada casino sportsbooks set new basketball betting record

Nevada casino revenue topped the $1b mark for the third straight month in March, thanks in part to record basketball wagering.

Figures released Monday by the Nevada Gaming Control Board show Nevada’s statewide casino gaming revenue hit $1.024b in March, nearly 3.4% higher than the same month last year while surpassing both February 2018’s $1.02b and January’s $1.15b.

Casinos on the Las Vegas Strip led the charge, with revenue rising 9.1% to just under $574m. The Strip’s gains offset sharp declines in Downtown and North Las Vegas, which were down 14.2% and 9.4%, respectively.

Slots revenue fell 1.85% year-on-year to $643.3m despite slots handle rising 2%, while total Games & Tables revenue improved 13.5% to $381m. Baccarat had a stellar month, more than doubling its total from March 2017 to $117.2m, as handle rose 44.7% and win rate rose four points to 14%.