Nevada Casinos Up 7% To $915m In MarchMay 14, 2013 2:32 pm
The Nevada State Gaming Control Board has released its casino figures for March, revealing a 7% increase in revenue to $914.8 million compared to the same month a year ago. The latest results come on the tail of February’s impressive monthly take of $1.073 billion statewide.
The Las Vegas Strip traditionally accounts for over half Nevada’s casino revenue, and last year generated a total of $6.2 billion in gaming revenues. During March this year, The Strip generated 13.1% more revenue at $507.6 million compared to March, 2012, with baccarat accounting for much of the growth. In fact, $36.9 million of The Strips $58.9 million increase in revenue for March was attributed to the high-rolling game of baccarat. Overall, The Strip is currently 5.7% ahead of its three month tally covering the same period in 2012.
Without baccarat, however, the whole of Nevada’s March tally would have been just 3.1% higher and flat over the whole of the fiscal year so far. In March, baccarat generated $712.2 million in action, up 43.6% or $216.5 million from March 2012, while the casinos won $74.8 million.
Around the state, Clark County gambling revenues was up by 7.4% in March; Downtown casinos up by 5.3%; Washoe County up 9.5%, with Reno’s casino market posting a 10.8% increase in revenue. Other areas, however, saw their gambling revenues decline during March, including Laughlin, North Las Vegas, and the Boulder Strip.
Based on March’s results, the state of Nevada collected 9.62% more in taxes, or $78.3 million, and for the first 10 months of the fiscal year gaming tax collection is up by 3.78%.
The American Gaming Association brought out its casino results for the whole of 2012 recently, showing Nevada was still America’s main gambling destination and generated 1.5% more revenue last year worth $10.9 billion.