Nevada reports 3.5% annual gaming revenue increase for August
The state’s licensees showed a total gaming win of $1.2bn for the month.
Nevada gaming licensees reported a total win of $1.2bn for the month of August 2022. This represents a 3.5% annual increase, which to many will demonstrate a return to form for the Silver State’s renowned gambling industry.
The results from the Nevada Gaming Control Board showed mixed results, however. For the fiscal period from July 1, 2022 through to August 31, 2022, the gaming win decreased by 0.07%.
The main focus of attention will be on Clark County, home to Las Vegas, where there was a 2.9% increase in revenue to $1bn from $994.9m from the same prior year period. As expected, Las Vegas Strip was the highest-earning region for Clark County, reaping $659.7m, an annual increase of $32.7m.
Las Vegas Strip, North Las Vegas and Downtown all reported healthy increases. However, Laughlin saw a year-on-year drop from $41.1m to $36m, while the Boulder Strip also declined from $91.1m to $88.5m.
Elko County showed promising results this month: its revenue was up to $32.4m from $29m in August last year. Other regions in Nevada fared well. For instance, Washoe County saw an overall gaming revenue increase from $90.5m in August 2021 to $92.6m this month.
Despite these positive showings, the fiscal year-to-date for the Nevada gambling industry was not as encouraging. From July-August 2022, the state posted results of $2.52bn, which contrasted badly with its fiscal year-to-date July-August 2021 result of $2.43bn, a 0.07% decrease.
The regions of South Lake Tahoe and Elko County, as well as Mesquite in Clark County, were the only Nevada areas reporting not to post fiscal year-to-date declines.
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