Published in The High Desert Advocate May 17th, 2018
Nevada casinos crossed the $1 billion mark in gambling winnings for a third straight month, the first time the industry has done that since 2008, before the financial crisis.
According to the Nevada Gaming Control Board, the nonrestricted gaming licensees reported total gaming win of $1,024,316,755 in March. It was a 3.4 increase compared to March 2017. For the fiscal year (July 1, 2017 through March 31, 2018), gaming win has increased 2.4 percent, according to regulators.
West Wendover Casinos reported $18,648,725 from March 1st to 31st compare to the year 2017, March was 17,047,584. That is an increase of $1,601,141., more than a Million and a half increase. That is more than 9.39% increase from last year and an increase more than 5.8 % more than the Las Vegas Casinos. The rest of Elko County Casinos had a decline of $224,241 for March of the previous year, with $ 8,481,874 in March 2018 compare to $8,706,115 for March 2017.
The Las Vegas Strip, the state’s main casino corridor, reported $573.9 million of the statewide take, up more than nine percent year-over-year. Clark County as a whole saw gaming win increase 3.6 percent compared to March 2017.
Nevada collected about $75 million in percentage fees during the month of April 2018, based upon the taxable revenues generated last month.
How special is the $1 billion mark for the Silver State casino industry? Per the Las Vegas Review-Journal, last month marked the 38th time the industry has done so. The record for gambling win was set at nearly $1.17 billion in October 2007.
What was the breakdown for the $1.02 billion? Slot machines statewide accounted for $643.3 million of the revenue, while table games and sports betting generated the rest.
Baccarat win was $117.2 million, an increase of 100 percent year-over-year. Sports betting accounted for $34.1 million, up 8.6 percent year-over-year.
