Nevada’s gambling market surpasses $1 billion for the eighth straight month
By Bob Garcia
Nevada’s casinos have found a lot of success this year, but more work is needed
While perhaps no longer surprising to many, given the strong market growth in Nevada, revenues, for the eighth consecutive month, have once again surpassed $1 billion. This makes it clear why this state is one of the unsurpassed leaders when it comes to the casino and gambling industry.
The positive streak has been going on since March when Nevada posted revenues of $1.06 billion, and since then, reports have not dipped below ten figures. October was not to be outdone by the state’s record-breaking performance so far, suggesting that the trend of hospitality and tourism has returned to pre-pandemic levels (or even better) in Nevada. According to data from the Nevada Gaming Control Board, casino revenues last month exceeded $1.2 billion. This represents a 20% increase from October 2019, indicating that revenues have improved even when compared to pre-pandemic times.
Although Nevada sportsbooks’ football results were not as expected, sports betting management also set an all-time record. Overall, this contributed to $71.8 million in tax revenue for the Silver State. It’s no secret to anyone that Sin City gaming is booming, which is why many analysts and pundits are predicting that 2022 could be the most lucrative year in the history of US gaming. Given the trend that has been shown this year, those expectations are actually being conservative.
The only thing that could stop this enormous growth would be a further spread of COVID-19. However, for the time being, the outlook seems to remain quite promising.