Nevada Casino Revenue Up 0.9% to $894M in June

Nevada’s casinos generated revenue of $895.4 million in June, representing a 0.9% improvement over the same month in 2016, according to the latest financial results released by the Nevada Gaming Control Board. As well as marking four consecutive months of growth, the state also collected $51.8 million in gambling taxes, an amount 5.8% more versus June of a year ago.
Last month, the Las Vegas Strip produced $495 million in revenue, up by 1.7% over last June, and accounting for 55% of the state’s overall casino business. From that total, slot machines took a 67% slice of the pie worth $600.1 million. Meanwhile, the WSOP which took place throughout the month contributed a further $16.7 million, representing an 87% increase over the $8.91 million taken in May, and marking its highest monthly take since June of 2007.
Overall, the Silver Stare’s casino revenues are currently 3.3% higher for the first six months of 2017 compared to H1 of 2017.
The latest results complete the fiscal 2016-2017 period for the 12 months ending June 2017, with the $11.4 billion collected up by 2.9% from the $11.1 billion taken in the previous fiscal year. As a result, Nevada has now noted growth in six out of the past seven fiscal years, with last year’s slot machine winnings up by 2.9% to $7.3 billion, and table winnings up by 3% to $4.2 billion.
Furthermore, during fiscal 2016-2017 a total of 13 of the state’s 15 casino markets posted year-on-year growth, with the two exceptions being North Shore Lake Tahoe down 2.5%,and the Boulder Strip lower by a mere 0.5%. Reporting the highest growth, however, was Downtown Las Vegas which once more managed to outpace the Las Vegas Strip, with its year-over-year revenue higher by 10.1% in June. Lake Tahoe also noted impressive growth, with business rising by 7.4%.
Finally, Nevada’s gambling winnings accounted for 34% of the state’s casino revenues for the fiscal year, down from 58% for fiscal 2015-2016, as the state’s casinos continue to promote their other products and facilities, including room rentals, restaurants, shopping, and entertainment.