It Was Almost A $1 Billion September For Nevada Casinos

Written By Katie Callahan on November 6, 2017
Welcome to Las Vegas sign in the evening

[toc]Nevada gaming revenue reached almost $980 million in September, a 3.25 percent rise from the previous year, reported the Nevada Gaming Control Board.

According to the board, multiple reasons accounted for the increase from almost $949 million to $979.9 million across the state.

Michael Lawton, senior research analyst with the Tax and License Division of the Gaming Control Board, had this to say to the Las Vegas Sun.

“This month’s statewide increase was driven by nonbaccarat table win up $17.1 million (twenty-one was up $4.7 million, craps up $8.4 million, roulette up $1.1 million and sports up $3.4 million) and slots which were up $9.4 million.”

Revenue increases across Las Vegas

  • Las Vegas Strip – 4.67%
  • Downtown Las Vegas – 0.02%
  • Laughlin – 2.7%
  • North Las Vegas – 8.28%
  • Reno – 9.16%
  • Sparks – 0.51%
  • Elko County – 5.21%
  • Mesquite – 8.99%
  • North Lake Tahoe – 16.53%
  • Washoe County – 10.78%
  • Carson Valley – 4.48% (includes Carson City, Gardenerville, Minden, and Douglas County with the exception of South Lake Tahoe)

Revenue decreased in South Lake Tahoe by 2.96 percent, and at casinos along Boulder Highway by 6.17 percent.

For the entire fiscal year, from July 1, 2017 to Sept. 30, 2017, gaming win increased 5.01 percent.

Baccarat revenue was on the rise, sitting at $4.3 million, a 4.7 percent increase. The baccarat volume was also up to $278.9 million or 49.5 percent.

Even with these numbers, the month was lower than that of last September, with hold at 11.54 percent, compared to 16.49 percent last year, Lawton told the Las Vegas Sun.

For gaming taxes and fees in October, the state collected $58.8 million based on September’s gaming revenue. This is a 7.19 percent decrease from October 2016.

Overall, the state collected $230.6 million compared to $228.3 million collected in 2017. This is a 1.01 percent change.

Another record in Nevada in sports betting

Nevada came out ahead when it came to sports betting this year. Sports betting volume went up to $558.4 million from the 2015 record-setting year of $577.4 million.

“The sports pool win amount of $44.4 million was the fifth-highest total ever,” Lawton said.

Statewide wins

For September 2017, the total win percent sat at 14 percent for games and tables and 6.39 percent for slot machines for 327 locations. For games and tables, the total hit $384 million, while the slot machine total reached $595 million. The percent change was 5.90 and 1.61, respectively.

The win percent for 12 months to date was 3.46 percent, or a total of almost $11.6 billion.

Big things shaping up in NV

A lot of changes this month could influence future Nevada gaming revenue. Chief among them, Fountainebleau sold to Witkoff from Carl Icahn and Stratosphere sold to Golden Gaming.

Reports on poker, comparatively, are more dismal, suggesting the poker boom, is over.

More positively, the Wynn Resort is creating a Paradise Park that may include gorilla floats, Caesars is rolling out the latest technology in skill-based gambling, and Station Casinos may eliminate all those loyalty cards in favor of an app.

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Katie Callahan

Katie Callahan is a freelance journalist, blogger and copywriter who covers everything from poker, business, education and politics to construction, startups and cybersecurity.

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