Posted on: January 27, 2022, 08:26h.
Last updated on: January 27, 2022, 08:26h.
Nevada casinos are fresh off their best year ever in terms of gaming revenue.
An aerial view of the Las Vegas Strip looking north in 2021. Nevada casinos won more gaming money than ever before last year, total gross revenue eclipsing the $13 billion mark. (Image: CNN)
The Nevada Gaming Control Board revealed today that 2021 gross gaming revenue (GGR) totaled more than $13.42 billion. That’s a nearly 71 percent year-over-year increase, and a nine percent premium on pre-pandemic 2019.
Nevada’s previous record gaming year came in 2007 when state casinos won approximately $12.85 billion off of their gamblers.
The 2021 record gaming year was capped off in December with casinos winning more than $1 billion for an unprecedented 10th consecutive month. GGR totaled $1.15 billion in the final month of the year, a 68 percent surge on December 2020.
The gaming momentum was felt across the casino floor. Compared with 2020, slot revenue jumped 70.6 percent and table games 70.7 percent. Slots were responsible last year for almost 70 percent of the $13.4 billion.
Nevada casinos welcomed back gamblers in 2021 following two years of COVID-19. Though some amenities remained closed or limited in their operation, casino floors were bustling throughout — and gamblers were ready to bet.
Over $129.4 billion was coined into slot machines last year across the state. More than $31 billion was plopped down on table games.
The slot terminals kept 7.1 percent of the coin-in for GGR of roughly $9.23 billion. Table games reported a win rate of 13.5 percent for approximately $4.19 billion. Sports revenue is grouped in with table games income.
Visitors returned in bunches last year to Southern Nevada. Harry Reid International reported this week that the airport facilitated 39.7 million passengers in 2021, an increase of 17 million travelers from 2020.
Las Vegas remains strong,” said Rosemary Vassiliadis, director of Clark County Aviation. “From stadium concerts to high-stakes sporting events, 2021 was a dress rehearsal for what LAS and the community can expect as Las Vegas solidifies its position as the premier entertainment destination.”
Domestic travel was much more robust last year than in 2020 due to the rollout of COVID-19 vaccines. Las Vegas still has a way to go, however, to return to pre-pandemic conditions. Harry Reid International, then known as McCarran, facilitated 51.5 million passengers in 2019.
Nevada casinos just experienced their best year ever… or did they? Inflation is rising at rates not experienced in decades.
The US Bureau of Labor Statistics reported earlier this month that consumer prices rose seven percent in December. That’s the largest price increase since 1982.
Inflation has become a major issue facing the US recovery and President Joe Biden’s administration. While 2021 was a banner year for the Nevada gaming industry, it’s worth comparing the buying power of a dollar in 2021 compared with the previous record GGR year set in 2007.
The $12.85 billion Nevada casinos kept from gamblers in 2007 is the equivalent of $17.28 billion in 2021 dollars.