Earnings have increased for the past four months
Casinos in the state of Nevada have reported an increase in house winnings for the fourth consecutive month in a row. Their September monthly total of $1.06bn was up by 6.8% in comparison to this time last year.
On the Las Vegas strip and nearby Clark County, operators reported an increase of almost 8.3% on their year-to-year monthly accounts.
September monthly total of $1.06bn was up by 6.8% in comparison to this time last year
Figures show that the state benefited from almost $66.4m in taxes in September this year, beating last September by around $1000. In all, tax revenues from gambling make up around 18% of the $14bn state budget. With Nevada having no state income tax, the revenue made from gambling comes second only to sales tax.
The Nevada Gaming Control Board has reported that these month-on-month increases are a record high for the state and key index of state fiscal health. That is despite Reno and surrounding Washoe County reporting that their casino winnings were down 3.4% in September in the year-to-year comparison.
With most casinos based on the Las Vegas strip, it is perhaps no surprise that winnings from this area outstrip all others in the state. Figures show that house winnings have risen by almost 5.8% since the fiscal year began in July. Overall, they rose by 4.7% statewide.
Slot machines play a large part
With an increase of 8.3% recorded in September alone, slot machine play is reported to have played a big part as house winnings hit $52.7m.
Board analyst Michael Lawton spoke to the Associated Press about the healthy report. He said,
It was the fifth billion-dollar month for the year and the highest September in state history. We’re trending nicely after a slow start for the year.”
Nevada casinos beat the all-time monthly record for casino winnings over a decade ago in October 2007, when the record was made at $1.165bn for monthly casino winnings.