The more time passes, the more evident it becomes that the gambling industry has reached its pre-pandemic levels.
We’ve previously reported that Nevada casinos saw the 8th consecutive month of revenue over $1 billion in October 2021. The latest figures show that the same was achieved in November.
According to a report by the Nevada Gaming Control Board (NGCB), the state’s commercial gaming industry recorded $1.32 billion in revenue, up from October’s $1.22 billion. This also means that the industry exceeded the previous eight-consecutive-month record (October 2006–May 2007).
November’s revenue was rather close to surpassing the all-time high amount of $1.36 billion from July. Furthermore, the sports betting segment set new records, as well. The revenue total came at $72 million, based on wagers equaling $1.1 billion.
NGCB senior analyst Michael Lawton says that the previous record regarding Nevada casinos’ gain from sports bets was set in November 2020 ($61.8 million).
It may be interesting to note that the majority of sports bets were placed via mobile betting apps. In fact, November 2021 marked the highest monthly total from mobile bets since the NGCB started tracking this information in January 2020.
This isn’t surprising, since more and more states, such as Arizona, are legalizing mobile betting.
Of course, visits to land casinos also played a notable role thanks to the loosening of travel restrictions and the introduction of international flights.
Only Laughlin and North Las Vegas failed to beat their 2019 results, Lawton pointed out. Analysts often use 2019 as a point of comparison rather than 2020 because the latter was marked by the pandemic, causing the industry to drop to devastating levels.
Overall, the state of Nevada collected nearly $93.6 million worth of November tax revenues from gambling.
Once the December report is ready, we’ll see if the industry will succeed in registering revenue of over $1 billion for the tenth month in a row.