The Nevada Gaming Control Board reported that gaming revenue in Nevada rose by 3.25 percent from the previous year, nearly hitting $980 million in September.
The board stated that several factors contributed to the rise from nearly $949 million to $979.9 million throughout the state.
The Las Vegas Sun received the following statement from Michael Lawton, a senior research analyst with the Gaming Control Board’s Tax and License Division.
The statewide increase this month was fueled by a rise in nonbaccarat table wins of $17.1 million (with blackjack increasing by $4.7 million, craps by $8.4 million, roulette by $1.1 million, and sports by $3.4 million), as well as a $9.4 million increase in slots.
Revenue increases across Las Vegas
- 4.67% – Las Vegas Strip
- 0.02% of Downtown Las Vegas
- Laughlin – 2.7%
- 8.28% in North Las Vegas
- Reno – 9.16%
- Sparks – 0.51%
- Elko County – 5.21%
- Mesquite – 8.99%
- 16.53% in North Lake Tahoe
- Washoe County – 10.78%
- 4.48% of Carson Valley includes Carson City, Gardenerville, Minden, and Douglas County, excluding South Lake Tahoe.
Revenue in South Lake Tahoe and at casinos along Boulder Highway fell by 2.96 percent and 6.17 percent respectively.
Gaming win saw a 5.01 percent increase throughout the fiscal year, from July 1, 2017 to September 30, 2017.
The revenue from Baccarat increased by 4.7 percent, reaching $4.3 million. Similarly, the volume of Baccarat also rose to $278.9 million, marking a 49.5 percent increase.
Despite these figures, the hold percentage for the month was lower than the previous September, being 11.54 percent compared to last year’s 16.49 percent, Lawton informed the Las Vegas Sun.
In October, the state amassed $58.8 million from gaming taxes and fees, which were calculated based on September’s gaming revenue. This represents a 7.19 percent drop compared to the amount collected in October 2016.
In total, the state collected $230.6 million, which is a 1.01 percent increase from the $228.3 million collected in 2017.
Another record in Nevada in sports betting
This year, Nevada led the way in sports betting. The sports betting volume increased to $558.4 million, surpassing the previous record of $577.4 million set in 2015.
Lawton stated, “The $44.4 million win amount from the sports pool was the fifth-highest total ever.”
Statewide wins
In September 2017, the overall win percentage for games and tables was 14 percent, while that for slot machines was 6.39 percent, across 327 locations. The total revenue from games and tables amounted to $384 million, and the slot machines generated $595 million. The percentage change for games and tables and slot machines was 5.90 and 1.61, respectively.
The win percentage for the past 12 months was 3.46%, equating to nearly $11.6 billion.
Big things shaping up in NV
Numerous changes this month could potentially impact future gaming revenue in Nevada. The most significant ones include the sale of Fountainebleau by Carl Icahn to Witkoff and the sale of Stratosphere to Golden Gaming.
Comparatively, reports on poker are more dismal, suggesting that the poker boom is over.
On a more positive note, the Wynn Resort is developing a Paradise Park that could feature gorilla floats. Meanwhile, Caesars is introducing the latest in skill-based gambling technology, and Station Casinos might replace all its loyalty cards with a convenient app.
