Nevada gaming revenue tops $1bn for seventh straight month
The Las Vegas Strip reported $641m in revenue last month, an 80.6% increase year-on-year.
Nevada’s casinos topped the $1bn mark in gaming for the seventh straight month, generating $1.15bn in September.
The September revenue figure represents a 41% increase year-on-year and arguably even more impressive, a 9.4% jump compared to September 2019.
Nevada’s run of seventh straight months surpassing $1bn in gaming revenue is the state’s second longest streak, trailing an eight-month run from November 2006 to May 2007.
Clark County was responsible for $1bn of the monthly revenue, as 2.93m visitors flocked to Las Vegas. Visitation was down only 2.1% from August and was down 15.5% from September 2019.
The Las Vegas Visitors and Convention Authority reported hotel occupancy of 73%, up 0.2% from August. Average daily room rate was $155.80, an 11% increase from the month prior.
Las Vegas casinos won $641m for the month, a 9.7% increase compared to September 2019.
Through the first nine months of the year, Strip revenue is 0.6% higher compared to 2019, according to Nevada Gaming Control Board senior economic analyst Michael Lawton.
“Strong demand across markets, the continued rebound of leisure travel, and the return of special events and entertainment continued to propel the gaming win past 2019 levels, which are now 8% above calendar-year-to-date 2019,” Lawton said.
Reno casinos reported revenue of $62.7m, a 9.9% increase year-on-year.
South Lake Tahoe casinos fared worse than the rest of the state due to the Caldor Fire that led to evacuations in late August into September.
The South Lake Tahoe region generated $5.6m for the month, compared to $24.8m in September 2020.
Sportsbooks had a successful month, bringing in handle or $787m for a 36.7% increase y-o-y. Sports betting revenue was $54.2m, the third highest all-time.
The return of the NFL and college football drove up sports wagers, particularly on the mobile side, which accounted for $495m, or 63%, of all handle.
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