Nevada Gambling Revenue Jumps Almost 7.5 Percent in March

LAS VEGAS (Associated Press) — The madness created by college basketball betting in Nevada is among the factors that led to a lucrative March for casinos statewide.

The Nevada Gaming Control Board reported Wednesday that casinos across the state brought in more than $991 million last month, an almost 7.5 percent increase compared to a year ago.

Sports bettors, table game players and strong visitation combined to almost carry the state's casinos to the $1 billion mark.

"It's a good solid number for sure," Michael Lawton, senior research analyst for the board, said of last month's revenue. "In the last nine months, we've done $1 billion twice. Hopefully, we'll start seeing those in a more regular basis."

Basketball enthusiasts last month bet a record $429.5 million, of which Nevada sports books took in $41.3 million, an increase of 91.7 percent, also setting a record. Meanwhile, slot machines yielded casinos $655.4 million, up 6.3 percent or $38.8 million.

Revenue from table games was $335.6 million, up 9.8 percent or $29.9 million. Casinos posted increased revenues for table games even though baccarat — a volatile, high-roller game — was down more than 11 percent.

"If baccarat would have done little better, we probably could have been there," Lawton said referring to the $1 billion mark.

Lawton explained that a large gathering of construction professionals, which brought 130,000 people to Las Vegas, as well as an additional Friday in the month compared to last year also influenced the reported revenue.