Nevada continues to rebound with seventh straight month of earnings
By Bob Garcia
Nevada’s casinos topped $1.1 billion in revenue in September
The streak of positive earnings in Nevada casinos continues to be a fact. The state, where entertainment is one of its main characteristics, reports seven consecutive months in which it cannot complain about the profits generated by these establishments. September, according to the data, was another month that closed on a high note, and it seems to be a trend that will continue for the rest of the year.
The Nevada Gaming Control Board (NGCB) recently released the numbers generated last month, which reveal that the state’s 322 licensed casinos collectively won more than $1.158 billion. This represents an increase of more than 40% over the same period last year. Last month’s earnings were so high that it undoubtedly eclipsed the best September ever reported for Nevada’s gaming industry.
The $1.158 billion revenue surpassed the best mark ever recorded, leaving behind the September of two years ago, when the NGCB reported a mark of $1.059 billion. It appears that the post-pandemic era is taking the lead over the pre-pandemic era. The state clearly also benefits from these green numbers through fees and taxes, which were nearly $73 million last month, according to the NGCB.
“Strong demand across markets, the continued rebound of leisure travel, and the return of special events and entertainment continued to propel the gaming win past 2019 levels,” said Michael Lawton, the NGCB’s senior economic analyst. September was recognized as a great return to business on the Las Vegas Strip.
The nation’s largest and most relevant gaming market reported year-over-year growth of more than 80%, gross gaming revenue (GGR) on Main Street totaled $640.6 million. This growth trend is happening in many other places across the country; however, The Silver State and its Sin City are more than making up for it.