Friday, December 9, 2022

Nevada casinos record nearly 1 1bn in revenue for January

Nevada’s casinos continued their unbroken streak, generating more than $1bn in revenue for January.

For the 11th straight month, the Silver State’s land-based gaming establishments broke the billion-dollar mark, reporting a total gaming win of nearly $1.1bn.

This amounts to a more than 40% increase over January 2021’s $762m, while for the first seven months of fiscal year 2022, gaming win has risen by nearly 58%.

Clark County, which includes Las Vegas, was responsible for the lion’s share of revenue, producing nearly $929m, or approximately 84% of the month’s total win.

And broken down even further, the Las Vegas Strip generated more than half of January’s revenue, accounting for over $567m, up roughly 76% from last year.

No other area even came remotely close to this figure, with the Boulder Strip’s $85m in revenue putting it in a distant second place, trailed by Downtown Las Vegas and Reno with $67.7m and $52.3m respectively.

Based on January’s performance, the state collected $81.2m in percentage fees during February, up 75% or nearly $35m when compared to last year.

This is the second highest amount collected since August, and the fourth highest in FY22 to date, only surpassed by July, November and June. In total, percentage fee collections thus far total approximately $652m for FY22, up 35%.

January’s revenue figures come amid the state’s continued recovery from Covid-19, which has in recent months undergone a gradual easing of pandemic-related restrictions.

Earlier in February, Nevada’s Governor, Steve Sisolak, published an emergency directive, lifting the state’s mask mandate.

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