Nevada Casinos Set Gaming Record Topping off $1 Billion

Nevada Casinos Set Gaming Record Topping off $1 Billion

The lucky winning streak in Nevada continues for the 7th month straight, topping off a record quarter. The Nevada Gaming Control Board released the results on Wednesday, showing off Nevada casinos gaming record.

Casino Revenues on the Las Vegas Strip

It has been reported that in Clark County, Nevada the revenue of the casino in the central part of Las Vegas – the Las Vegas Strip – amounted to $2.1 billion for the quarter. This is a new record for local gambling operators.

The previous quarterly record for casino revenues on the Las Vegas Strip was set at the end of 2006 – when companies managed to earn $1.8 billion.

“The news that the Strip is lagging behind is not relevant. Now the casinos here have officially outstripped the pre-pandemic indicators,” said Michael Lawton, senior analyst at the Nevada Gambling Control Board.

It is noted that visitors of local gambling establishments who played for entertainment took 486.2 million US dollars with them. This is 48% higher than the data recorded in July 2019, when the casinos were operating at full capacity and did not experience a shortage of attendance. Moreover, the resulting figure is the second largest total in the history of the state of Nevada.

Residents and guests of the US capital of gambling entertainment, according to the statistics presented, spent $ 12 billion on games in land-based slot machines in July. Quoting the reliable source, “If state gaming win exceeds $1 billion in October, it would tie the record for Nevada’s longest gaming win streak, recorded from November 2006 to May 2007.”

In September 2021, the state of Nevada collected $1.2 billion in gambling revenue, which made it possible to earn more than $1 billion for the seventh month in a row. In general, gambling revenue in September increased by 9.4% compared to the same month in 2019.

According to Brendan Bussmann, gambling industry analyst at Global Market Advisors, casinos should continue to develop in the long term, despite the problems with the economy.

“The two biggest challenges include the potential resurgence of COVID-19, which will lead to a lockdown, as well as the stability of the US economy. With rising fuel prices, inflation and supply chain costs, this can make the consumer’s wallet more limited and affect domestic travel,” Bussmann said.

Recalling that the other day, the gambling regulator of the state of New Jersey reported record revenue from gambling in September 2021: in one month, players placed bets in the amount of more than $ 1.01 billion.

“New Jersey has always been a strong gaming market. Breaking the $1 billion mark in September is an impressive indicator of the appetite of New Jersey residents and Americans across the country who have accepted legal, regulated sports betting,” said Casey Clark, senior vice president of the American Gambling Association.