With one other big month in October, Nevada casinos prolonged its streak of producing 10-figure revenues to eight months.
According to numbers released Tuesday by the Nevada Gaming Control Board, Silver State casinos reported $1.22 billion in gross gaming income in October. With the eighth straight month of at least $1 billion, the trade ties a state document set in 2006 into 2007, earlier than the Great Recession set in and took a toll on the Las Vegas gaming trade.
The streak began in March when casinos reported $1.06 billion in income. It adopted up with $1.03 billion in April, $1.23 billion in May, $1.19 billion in June, $1.35 billion in July, $1.16 billion in August, and $1.16 billion final month. July’s $1.35 billion was the best reported income within the historical past of the trade.
As it sometimes does, the state was pushed by the casinos on the Las Vegas Strip, which made up $702.2 million of the state’s complete. Clark County casinos made up practically the whole lot of the state’s income with $1.05 billion from the Southern Nevada space.
The Strip is clearly pushed by tourism, which is down from pre-pandemic ranges however nonetheless comparatively sturdy in comparison with the remainder of 2021.
According to the Las Vegas Convention and Visitors Authority, there have been greater than 3.39 million vacationers coming to Sin City all through the month. It represents a 15.5% bounce from September however is down 7.6% from October 2019.
Nevada Gaming Control Board Senior Analyst Michael Lawton advised the Nevada Independent that a rise in demand and in tourism led to such a robust rebound this 12 months.
“Strong demand across markets, the continued rebound of leisure travel, and the return of special events and entertainment continued to propel gaming win past 2019 levels,” mentioned Lawton.
As conventions and extra reside leisure proceed to return to Las Vegas, these numbers will proceed to rise. Of course, issues may change swiftly if the general public reacts negatively to the brand new COVID variant.
Along with greater than $1 billion in income, Nevada sportsbooks accepted greater than $1 billion in wagers for the primary time in state historical past. Sportsbooks reported a complete deal with of $1.1 million, which crushed the earlier all-time excessive of $786.5 million, set in September. New Jersey is the one different state to document a 10-figure sports activities betting deal with.
Bettors have been sharper than common, nevertheless, as books gained $48.3 million on these bets, which interprets to a 4.3% maintain.
Outside of the Strip, Downtown Las Vegas was the state’s top-performing space with $76 million in income. Boulder Strip and Reno have been simply behind Downtown Las Vegas with $67.7 million and $62.5 million, respectively.
The state authorities collected $71.8 million in taxes in November from October’s recorded income. It’s a 42.07% bounce from the taxes collected throughout the identical time-frame final 12 months.
