Gaming revenues in Nevada are increasing.
As per the figures released by the Nevada Gaming Control Board on May 31, 2017, there was an increase of 1.19 percent in statewide gaming revenues for April 2017 compared to April 2016. The total gaming revenues for the state in April 2017 were $886,528,810, which is higher than April 2016’s figure of $876,135,199.
Las Vegas sets the pace, as usual
Naturally, Clark County remained the leader in gaming revenue in Nevada. The county registered a gaming revenue of $763,200,286 in April 2017. This represents a growth of 1.37 percent from the $752,884,541 recorded in April 2016.
The Las Vegas Strip, located within Clark County, continued to be the largest source of gaming revenue. In April 2017, the strip generated $475,375,212 in gaming revenue. This figure, however, represented a 3.25 percent decrease from the $491,369,187 recorded in April 2016.
The Las Vegas Strip, typically identified as the roughly four-mile expanse of hotels and casinos along Las Vegas Boulevard from SLS Las Vegas to the Mandalay Bay Resort and Casino, houses numerous large-scale casino resorts including:
- Hotel & Casino MGM Grand Las Vegas
- ARIA Resort & Casino
- Bellagio Hotel & Casino
- Hotel and Casino Caesars Palace in Las Vegas
- The Venetian Las Vegas
- Wynn Las Vegas
Downtown Vegas shows biggest growth
While the Las Vegas Strip maintained the highest revenue numbers, Downtown Las Vegas saw the most significant revenue growth. Data from the Nevada Gaming Control Board reveals that Downtown casinos earned a gaming revenue of $52,295,316 in April 2017. This signifies a substantial 21.89% increase from the $42,905,377 recorded in April 2016. In fact, Downtown Las Vegas had the highest percentage of gaming revenue growth in Nevada for that month.
The majority consider Downtown Las Vegas as the historic heart of the city. It encompasses a compact business district, as well as a hotel and gaming zone focused on Fremont Street and the covered entertainment venue, the Fremont Street Experience. Located just north of the Las Vegas Strip, it boasts several historic hotel and casino properties. These include:
- The Golden Nugget
- Four Queens
- Binion’s
- The D Las Vegas
- Plaza
- Stratosphere Las Vegas
Year-to-date numbers climbing
Gaming revenues in Nevada for the fiscal period from July 2016 to April 2017 currently amount to about $9.5 billion. This figure represents a modest increase of over three percent from the $9.2 billion recorded during the equivalent period in the previous year.
Nevada continues to significantly benefit from rising gaming revenues throughout the state. In fact, in May 2017, the state amassed $44,245,090 in percentage fees, derived from taxable revenues generated in April 2017. This figure represents a 0.26 percent increase from the $44,128,685 collected during the corresponding period of the previous year.
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