Covid-19 cuts into Nevada gaming revenue in March

The closure of Nevada’s casinos from 17 March as a result of the novel coronavirus (Covid-19) pandemic has resulted in gaming revenue falling 39.6% year-on-year, with the state’s sportsbooks hit especially hard.

Total revenue fell to $618.1m, down from $1.02bn in March 2019, and bringing to an end a run of three consecutive months in which revenue has topped $1bn.

The state’s sports betting market was hit especially hard, after the National Basketball Association, Major League Baseball and Major League Soccer suspended fixtures from 12 March, with the National Hockey League following a day later.

The vertical saw handle drop 76.3% to $141.2m, of which $88.9m came from betting on mobile devices.

While mobile contributed revenue of $3.8m, this was wiped out by losses of $5.3m on football, and while this was offset by a $5.9m contribution from basketball, total sports betting revenue plummeted 95.5% year-on-year.

Read the full story on iGB North America.