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Nevada Gaming Revenues Drop as Sports Betting Up, Colorado Governor Signs Off on Sports Betting Bill

Written by:
Gilbert Horowitz
Published on:
May/30/2019

Nevada gaming revenue was down 2% while revenue from sports betting was up sharply by 32% in the month of April.

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The Gaming Control Board (NGCB) showed the largest drop (4%) in Clark County occurred on the famed Vegas Strip.

North Lake Tahoe, based in Washoe County, saw the biggest drop, falling 16% to $1.2m.

While twenty one blackjack led the way among casino games, raking in $83.7m in revenue, this was an 11% drop.

Baccarat followed, taking in $66.8m in revenue for the month.  This represented a 2% increase. 

The bright spots were sportsbooks, which generated $21.6m for April on a $328m handle.

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Colorado Governor Jared Polis has signed a bill authorizing sports betting to be permitted in the state, however, the measure must now be placed on a voter referendum this November.  This process all but ensures there won't be any sportsbooks in operation during the 2019 NFL regular season.  

HB19-1327 was only introduced on April 18 and approved in both the House and Senate.  It includes taxation of operators at 10%.

Should sports gambling become legalized, sports betting would only be permitted in the state's three existing casinos.  These casinos would also have the option to develop a mobile app that can be used anywhere within the state.

- Gilbert Horowitz, Gambling911.com

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