Nevada’s thriving casino sector continues to dazzle as revenue once again exceeds $1 billion. According to the Nevada Gaming Control Board’s (NGCB) most recent report, the state’s gaming income for April impressively was $1,159,751,632. The Silver State’s casinos have now generated more over $1 billion in gross gaming revenue (GGR) for 26 months running.
Monthly Dip, Yearly Rise
The $1.16 billion in revenue marks a significant 2.77% year-over-year growth compared to April 2022, when casino licensees recorded a gaming win of $1,128,502,208, despite a minor monthly down from the wins of $1.3 billion in March. The casino sector in Nevada is resilient and popular, as seen by the steady yearly growth in gaming winnings.
Regional Breakdown
Revenue in Clark County’s Downtown Las Vegas region increased by an astonishing about 11% annually, totaling almost $74.5 million. 19 licensees in this area generate over $1 million in revenue. For non-restricted areas, the Clark County Las Vegas Strip reported $624.7 million in revenue, an impressive 5.27% year-over-year growth. However, gaming income fell throughout the county, with casinos outside of the Strip in Clark County reporting a little over 6% loss in revenue and over $131 million in total.
Breakdown of Casino Games
Slot machines continued to be a major source of income for casinos in Nevada in April, generating $837.9 million statewide, an increase of 4.2% over the same month last year. Table, counter, and card game revenue came to $321.84 million, a modest decline of 0.78% from the previous year. Blackjack revenue dropped 14.8% from April 2022 to $44.1 million, while revenue from baccarat only slightly increased, by 0.02%, to $94.92 million.
Tax revenues
The state of Nevada received $67.5 million in gaming taxes in May 2023 based on the taxable earnings for the month of April. The percentage fee receipts showed a slight $2,403,521 fall from $69,859,394 despite the fact that this is a 3.44% decline from the May figures from the prior year.
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