February turned out to be a great month in the state of Nevada as casinos were able to see an increase in revenues thanks to an extra day on the calendar for leap year as well as the Super Bowl. The state was able to earn $990 million for the month, an increase of 8.1 percent when compared to February of 2015. The Nevada Gaming Control Board reported yesterday that gambling revenues on football were up 10%, partially based on the Super Bowl, which happened later than last year. Wagers took place for a full week, which help to boost the gambling earnings.
According to gaming analysts, the Super Bowl is an overall good thing for casinos, even though the winnings of football wagers account for less than 1% of the overall annual gambling revenues of the state, and sports betting only account for 2%. Michael Lawton, an analyst of the control board, stated that it is hard to quantify what else the Super Bowl brings but it should not be discounted.For 2016, the Super Bowl wagers came in at $132.5 million, with the Denver Broncos won over the Carolina Panthers 24-10, with bettors generally expecting the score to be higher.
During the month, table games saw an increase in revenues of 8.3 % while slots were up 7.8%. Bettors were putting more money into additional gambling options and the casinos were able to keep a larger portion of the wagers. Every area of the state was able to see an increase with the Las Vegas Strip earning a 7.3% increase, bringing in $570 million while the downtown area earned $51 million, which was an increase of 17%. Reno casinos were up 6.9%, earning $48 million with South Lake Tahoe earnings coming in at $16 million, an increase of 3.8%.
It is believed that several events coming up in March and April should help the gambling revenues to continue to be strong in Nevada, with the World Series of Poker also coming in summer months, to help bolster earnings.