Nevada casinos notch record gaming win for the month of April
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Nevada reported gaming win rose 6.95% year-over-year in April to $1.24 billion, according to the state's Gaming Control Board. The gaming win tally was the highest ever recorded for the month of April, despite Easter landing on the calendar in March this year. Las Vegas Strip casinos saw a 6.62% increase in gaming win for the month to $666.1 million. Gaming win was up 11.1% for downtown Las Vegas casinos. Casinos around Lake Tahoe also outperformed during the month.
Notably, April was the 38th month in a row that Nevada state gaming win topped the $1 billion level. Las Vegas slot win was up 5.1% year-over-year to $409 million, while LV table games win shot up 9.2% to $257 million. Sports betting GGR was $30.8 million vs. $32.4 million a year ago. A better hold rate on major sports events helped pad the total after some sportsbooks came out behind on the Super Bowl and NCAA tournament, earlier in the year.
Notably, the events calendar in April included Sphere (SPHR) shows, a Mariah Carey residency at Park MGM, the return of the Garth Brooks residency at Caesars Palace, the National Association of Broadcasters convention, and UFC 300.
Sector watch: Caesars Entertainment (NASDAQ:CZR) -3.2%, MGM Resorts (NYSE:MGM) -1.1%, Boyd Gaming (BYD) -1.5%, Wynn Resorts (WYNN) -1.6%, Full House Resorts (FLL) -0.2%, Bally's Corporation (BALY) -0.4%, and Red Rock Resorts (RRR) -0.6%.
