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Nevada sports betting revenue hit $1.43B in 2023; Macau sees surge in January

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Cryptocoins News / CoinJournal 20 Views

  • Sports gambling has seen rapid expansion in the US since the 2018 Supreme Court ruling allowing states to regulate sports betting within their respective borders.
  • Among the states best known for casinos in the US is Nevada, home to the famous Las Vegas city.
  • Outside of the US, Macau is another destination witnessing a surge in sports betting activities.

Nevada and Macau, two global gaming powerhouses, have recently released their gaming revenue reports, showcasing notable trends in the industry. Nevada witnessed record-breaking figures for both December 2023 and the full fiscal year, while Macau experienced a significant surge in January.

From a groundbreaking Supreme Court ruling legalizing online casinos to the popularity of slots for real money, Nevada has emerged as a powerhouse in the realm of traditional casinos and online casinos including crypto casinos.

Nevada’s record gaming revenue

In December 2023, Nevada achieved a historic milestone with a record-breaking revenue of $1.43 billion, marking a 9.04% increase compared to the previous year.

The state’s gaming industry continued its upward trajectory throughout the fiscal year 2023, culminating in a new statewide revenue record of $15.5 billion. Slot machines remained the primary revenue driver, accounting for $10.3 billion in gaming revenue. However, table, counter, and card games saw a notable growth of 8.35%, outpacing the slot machine revenue increase.

On the regional front, Clark County experienced a substantial 9.75% increase in gaming revenue, reaching $1.27 billion while Washoe County witnessed a slight decline of 2.87%, amounting to $80.4 million. Notably, Elko County stood out with a remarkable 14.96% increase, reaching $36.4 million in gaming revenue for 2023.

These regional variations reflect the diverse dynamics within Nevada’s gaming landscape as the gaming industry continues to thrive in the ‘Silver State’, setting new benchmarks and attracting visitors from around the world.

Macau’s impressive growth

Outside Nevada and the United States, Macau, often referred to as the “Las Vegas of the East” for being a prominent gaming destination in Asia, reported a staggering 67% increase in gaming revenue for January 2024 compared to the previous year.

This surge highlights the resilience and recovery of Macau’s gaming sector following challenges posed by the pandemic. The positive momentum in Macau’s gaming industry bodes well for its future prospects and contributes to the global gaming market’s vibrancy.

The post Nevada sports betting revenue hit $1.43B in 2023; Macau sees surge in January appeared first on CoinJournal.


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