Nevada Gaming Rises 3.7% To $860 Million In July 2011September 13, 2011 10:45 am
The US’ biggest gambling market is beginning to show signs of improvement after the state of Nevada posted an increase in its casino revenue for the third straight month.
On Monday, the Nevada Gaming Control Board released their figures for July showing a 3.7% increase in win to $860 million, compared to the same month last year representing an improvement of $136.9 million.
Playing a big part in the encouraging figures was the amount wagered on table games up 12.2% million to $2.8 billion, translating to a $315.7 million win for the casinos in July. Included in the table game figures was baccarat, which was up 23.5% to $919 million for an $89.7 million win.
In addition, slot machines recorded their largest percentage increase in volume since May 2006 of 5.2% up $469 million to $9.5 billion.
Overall, in July the amount wagered on table games and slot machines in Nevada was up 6.7% to $12.3 billion, with $860 million in winnings for the casinos.
From this amount, the Las Vegas Strip accounted for $469 million of the figure up
1.6% compared to the same period in 2010. Other areas posting increases included South Shore up 25.4% to $29.8 million, South Lake Tahoe up 25% to $30 million,
Clark County up 3.2%, Reno casinos up 0.9% to $51 million and Downtown Las Vegas up 10% percent.
Coversely, Carson Valley area was down 2.26% to $8.69 million, while North Lake Tahoe dropped 10.5% to $3.4 million.
The state of Nevada currently receives around one third of its funds from casino taxes, and July 2011 saw the state collect $48.1 million from the casinos, down 3.6% from July last year.