While some elements of the gambling industry have been shielded from the devastating impact of the worldwide coronavirus pandemic, Nevada’s iconic casino business has been uniquely prone. After all, Nevada has a tiny local population and relies heavily on out-of-town guests to gamble, drink, and generate cash. That vulnerability was on glaring display as Nevada’s casino gaming business saw a revenue drop of 25 percent in February 2021 when compared with February 2020.
According to a recent numbers from the Nevada Gaming Commission, as reported on by theCenterSquare.com, gaming revenue in the state was clocked right at $772 million. That’s a big step down from the $1 billion that were generated in February 2021 (which has the distinction of being the last normal month of the pre-pandemic world). That’s a decline of 24.6 percent and is terrible news for casino workers and gambling operators.
Nevada’s gambling industry woes were particularly hard felt in its unofficial capitol, Las Vegas, where gambling revenue was down an astonish 40 percent from February 2020. That said, Clark County did actually post a three percent revenue increase overall from last February, which likely reflect a turning of the travel tide as more Americans venture out of their homes after receiving vaccines; as well as decreased regulation on casino capacity.
This reflects a number of factors, including the fact that February is an odd month that falls between football season and college basketball tournaments; and is generally too early to attract spring break crowds. February is also the shortest month, which can leave revenue feeling short even in flush years.
With a predicted fourth coronavirus surge mounting, Nevada may be facing more challenges when it comes to generating gambling revenue as spring rolls on.