September Has Nevada Casino Revenue Up 4%
Nevada is back on the mend. Per multiple reports, state officials have revealed that Nevada gambling revenue has risen roughly 4% in the month of September.
Nevada Revenue Increase
Healthy gains are being reported on the Las Vegas Strip, while the Nevada Gaming Control Board stated this week that Nevada’s casinos profited approximately $949 million in the past month.
Earnings on the Las Vegas Strip increased roughly 7% from the previous year, to $543 million. The downtown scene wasn’t a stranger to the positive gambling numbers, either, with their winnings broaching $49 million – a healthy 4% increase:
— VegasLifeToday (@vegaslifetoday) October 27, 2016
Not Just Vegas
The mild success stretched out elsewhere beyond Just Vegas, as well, with Reno casino revenue rising by 2% to about $54 million, while South Lake Tahoe revenue spiked roughly 2% to $22 million in the month of September.
The numbers naturally were good for the state, which collected over $63 million in tax money, per the September winnings.
Not only are September’s numbers quite healthy (coming in at a 9% increase over September of 2015), but it’s also a very positive sign for Nevada gambling after a rough August:
— iGaming Business (@iGamingBusiness) September 30, 2016
August was not kind to Nevada when it came to the gambling scene, as a decline in year-on-year success in the month were impacted by double digit losses by casinos.
Nevada gaming revenue was down 5% last month, while Strip casinos felt it the most (15% decline in revenue).
While September’s big win for the Nevada casinos doesn’t promise continued growth for the state’s gambling revenue, it is at least an encouraging development in the face of a down August.
Table games saw the sharpest decline in casinos in August, but overall the industry saw more gambling engagement. The start of the NFL and NBA seasons could have a small impact on the increase in gambling, and if so, it’s possible the casino scene could prepare for a healthy close to 2016.
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