Record Revenue Run Continues for Nevada Gambling

Think the pandemic has killed Nevada gambling revenue? Don’t bet on it! The Nevada Gaming Control Board has released the numbers for September, and it’s all good news! We had reported that gambling in the Silver State was on a six-month hot streak of generating over $1 billion a month. And now you can make it seven months, which is the second longest streak of billion dollar months ever!

The winnings for the state in September were $1.16 billion, to be precise. That’s more than a 40% rate of growth from last year, and nearly a 10% growth from 2019 before the pandemic hit! Casinos on the Vegas Strip accounted for more that $640 million of the Nevada gambling profit, and Clark County as a whole handled over $1 billion for the state.

Betting on sports was also setting records, with over $785 million placed in wagers, generating well over $50 million in profit for the books. What is even more interesting is that over 60% of those bets were placed via mobile apps!

All this good news for Nevada gambling means that the state collected over $70 million in taxes. However, the streak may be nearing an end. Even though profits are strong, they are trending downwards. The state took in $1.4 billion back in July, which fell to $1.2 billion for the month of August. With September being just $1.16 billion, we’ll just have to see what October generated.

 

Author: wpadmin

Leave a Reply

Your email address will not be published. Required fields are marked *