Nevada Casino Revenues Up 1.5% to $916.3m in September

Nevada Casino Revenues Up 1.5% to $916.3m in SeptemberNevada casinos generated $916.3 million in September, marking a 1.5% increase over the same month last year, and breaking a three-month losing streak for the state’s gambling industry. The improvement in revenues was helped along by a Labor Day weekend, as well as a “strong events calendar” which saw the MGM Grand Casino host both an Ultimate Fighting Championship (UFC), and a Floyd Mayweather Jr WBA/WBC boxing fight. Another major draw in September was the inaugural Life is Beautiful concert, which featured such top acts as Stevie Wonder, Duran Duran, Kendrick Lamar, and Imagine Dragons.
Also giving a much needed boost to state revenues was a bounce back in Las Vegas’ lucrative baccarat games, which rose by 23.2% to $100.5 million in September, in contrast to past months in which the Chinese corruption and money laundering clampdown caused many VIP baccarat players to stay away from Sin City. On The Strip, blackjack was also higher by 14.5% to $90.3 million, and craps soared by 37.5% to $36 million, although roulette revenues fell by 31.6% to $21 million, and slots, too, was down by 1.8% to $572.4 million. Casinos in Downtown Las Vegas also reported an improvement in gambling revenue, up 9.3% to $47.5 million, compared to the $43.5 million generated in September 2014.
Elsewhere around the state, Washoe County, which includes Reno, Sparks, and North Lake Tahoe, was up by 8% to $71.4 million, while South Lake Tahoe revenues dropped to $21.2 million from $23.8 million last September. Meanwhile, Elko County noted a 4% improvement in year-on-year revenues to $22.4 million last month, and Carson Valley Area was up by 1.6% to $8.7 million from last year.
The Silver State subsequently collected around $58 million in gambling taxes based upon September’s revenue totals, lower by of 12.2% from a year earlier. For the first nine months of 2015, statewide gambling revenues are currently higher by 0.3%, although The Strip casinos have experienced a 1.5% revenue decline over the same period.

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