Nevada is ready for a financial rebound. Despite the impact of the pandemic, the state recorded $1 billion in gaming win, according to the regulator.
Nevada Gaming Control Board: Gaming Win in September Hit $1bn
Despite the difficulties surrounding the COVID-19 pandemic last year, it looks like Nevada is in for great rebound. In fact, gaming win in the state surpassed $1 billion last month. What is more, this marked the seventh month in a row, when Nevada’s gaming win surpasses a billion.
A report released by the Nevada Gaming Control Board (NGCB) outlines that non-restricted gaming licensees reported a gaming win of $1,158,168,180 last month. This marked a significant 41.07% increase when compared to September 2020. Back then, the gaming win halted at $820,980,906. Moreover, for the fiscal year, July 1, 2021, through September 30, 2021, gaming win increased by 58.71%. While for the same period last year, gaming win halted at $2.3 billion, this year, it skyrocketed to $3.7 billion.
Percentage Fee Collections Increase in October
According to the regulator, Nevada collected nearly $73 million in percentage fees as of October 26, 2021, “based on the taxable revenues generated in September 2021.” Comparing that result to the prior year, we do see an increase of 7.50%. Percentage fees for the same period last year halted at $67,826,459, while this year, they increased by $5,089,820.
Overall, Nevada’s percentage fee collections for the collection period between July and October this year hit $337 million. For the same period last year, those collections halted at $305 million. In other words, a 10.55% increase was observed upon year-to-date comparison.
Gaming Win in Clark, Washoe and Elko Counties Increases
Focusing on the breakdown of the gaming win in September, we see that Clark County’s gaming win skyrocketed, surpassing $1 billion. Last year, the gaming win halted at $667 million. In other words, this year, Clark County’s gaming win grew by 50.78% when compared to last year.
Not unexpectedly, a similar increase was observed in the gaming win for the Las Vegas Strip. In September 2020, the gaming win for the strip hit $355 million. This year, gaming win jumped by 80.64% to $641 million. Another increase was observed in the gaming win for Downtown Las Vegas in September. The gaming win in Downtown Las Vegas grew 41.09% to $73 million from the $52 million for the same period last year.
The gaming win in Washoe County also saw an increase this September. While last year, it halted at $79 million, this year, the gaming win grew 12.99% to $89 million. Yet another increase in gaming win was observed for Elko County. Last year in September, the gaming win hit $25 million. This year, it grew by 19.72% to $30 million.