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Nevada Breaks $1 Billion in Gaming Revenue…Again

Nevada gaming revenue hit $1.28 billion in October, marking the 20th straight month that Silver State casinos have topped the $1 billion mark. Nevada casinos are benefiting from increased interest in gambling across the United States, along with increased activities such as Las Vegas Raiders games, that are drawing in huge numbers of tourists to Sin City.

According to the numbers published by the Nevada Gaming Control Board, the state’s combined casinos drew in $1.28 billion in revenue. That’s up 4.83 percent from October 2021 when Nevada gaming earned $1.22 billion. It’s also up just a hair over the $1.25 billion in revenue that marked September 2022.

As is pretty much always the case in Nevada, and the rest of the world, slot machines were the most effective means of separating Nevada tourists from the money they’ve budgeted for gambling. Slot machines earned $877.3 million of that $1.28 billion for the month. Slot machine revenue was up more than ten percent from October 2021 when the one-armed bandits collected $790.4 million in revenue.

Multi-denomination slot machines were the big winner bringing in $454 million in revenue. Penny slots, one of the most reliable money-makers in the Nevada gaming arsenal, accounted for $307 million in revenue.

Sports betting accounted for $56.9 million in revenue, which was up 17 percent from last year. Mobile sports betting drew in $27.4 million worth of that $56.9 million.

Another steady force in Nevada gaming was good old American football. Football was responsible for $33 million of Nevada’s monthly sports betting revenue. By way of comparison, professional baseball only pulled in $7.8 million while professional basketball brought in $6.3 million.

Nevada gaming has locked down a formula for breaking a billion dollars every single month and their money-making ride does not seem to be in jeopardy of slowing down anytime soon.