Gaming revenue in the state of Nevada is on track for a record-breaking year, despite the damage inflicted last month by sports betting raconteur Mattress Mack. Nevada’s gaming revenue for the month of November totaled just over $1.2 billion, which was down from November 2021, but still very healthy.
While November’s numbers were hardly bad, they represent a dip of about 7.6 percent from November 2022, when the state’s gaming industry brought in $1.3 billion in revenue. The November dip, as it were, was particularly noticeable on the Vegas Strip, which collected $669 million. That’s down a full 11 percent from November 2021.
November 2022 was not a good month for Nevada sportsbooks, which took in $927 million in wagers, which accounted for $37.7 million in revenue. That’s down an astounding 48 percent from November 2021 when the state’s regulated sports betting operators brought in $72 million.
The reason behind this particular slump is likely the result of Mattress Mack McIngvale, a Houston business man who wagered $10 million across multiple sportsbooks, including Caesars, to win $75 million on the World Series.
Though sports betting numbers were down, Wells Fargo Securities gaming analyst Daniel Politzer told the Nevada Independent that, “Overall, Strip fundamentals remained consistent.” Politzer is definitely on point as Nevada gaming, barring any major disaster, is on track for a record-smashing year. As of this writing, Nevada’s gaming industry has collected just over $13.5 billion in revenue. That’s already $100 million ahead of where they were at this time in 2021 and tops the state’s record of $13.4 billion.
With both the Nevada gaming industry and the US gaming industry as a whole thriving, it’s clear that even a disappointing month in 2022 is still going to look very good.