Nevada Casino Revenue Up 6% To $855.7Million In April

The Nevada Gaming Control Board has released its financial data for May revealing a 6% rise in revenue to $855.7 million compared to $847.1 million for the same month last year.
In an encouraging sign that Nevada’s gambling industry is on the mend, May’s results represents the Silver State’s third monthly increase over four months, with revenue up 18.4% in January, 5.7% In February, but down 10.8% in March.
On average, the Las Vegas Strip generates more than half of Nevada’s gambling revenue and in April the area fared slightly better than the statewide average, having posted a 7% increase to $459 million compared to $427.5 million a year earlier.
A big part of the State is represented by Clark County, which is located in Southern Nevada and accounts for around three-quarters of Nevada’s residents. It also includes Las Vegas and overall Clark County recorded an 8.9% rise in revenue to $743.7 million. However, the rest of Nevada performed considerably worse with Washoe County down 15.5%, South Lake Tahoe down 4.4% and Elko County down 2.3%.
Nevertheless, April’s figures represent six positive revenue months out of seven and was cautiously welcomed by Nevada Gaming Control Board, with its senior research analyst Michael Lawton commenting:
“March was kind of a bump in the road. (We) got back on track this month. Next month might be a little bit different, we’ve got a really tough comp for May.”
Nevada taxes collected in April reached $48.6 million, up 13.9% from the same month in 2011. For the first 9 months of the fiscal year, gambling revenue in Nevada is now up 2.5% to almost $9 billion