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