Nevada casino win jumps in June, ticks up to end fiscal year
LAS VEGAS (AP) — A jump in winnings by Nevada casinos in June helped push statewide revenue figures for the fiscal year to $11.9 billion, state officials reported Tuesday
The total statewide “gaming win” of a little more than $1 billion last month was up nearly 11.6% compared with June 2018 and represented the best month of June ever, said Michael Lawton, chief analyst for the Nevada Gaming Control Board.
The results pushed what had been a flat 12 months of revenue up to finish at 0.8% compared with fiscal 2018.
“Gaming win has now increased in four consecutive fiscal years and eight of the last nine,” Lawton said.
The primary driver behind the June jump was baccarat, Lawton said, where casino winnings of nearly $158 million were up $84 million, or more than 114%, from June 2018 — one of the highest hold percentages in state history.
A year ago, the state reported a 3.2% overall house winnings increase from fiscal 2017. A board summary noted that growth in Nevada casino winnings has averaged 1% during the last 10 years.
Gambling is second only to sales taxes as a percentage of the state’s $14 billion annual budget. Nevada has no state income tax.
The report says Nevada collected $55 million in percentage fee taxes based on June figures. That was up 15.9% from a year ago.
The board reported last month that, through June 25, the state took in $710.5 million in taxes, up a little more than 4% from $683 million received in fiscal 2018.
Slot winnings statewide increased 3.5% this fiscal year, according to Tuesday’s report, averaging a slight increase of 0.8% over 10 years.
Table, counter and card games winnings decreased 3.9% for the year, but remained up 1.5% over the decade.
Overall casino winnings on the Las Vegas Strip, where most of the state’s gambling business is done, was down just under 1% for the year.
Other parts of surrounding Clark County reported overall increases including 5.9% in downtown Las Vegas, 2.5% on the Boulder Strip and 5.4% in Mesquite.
At Lake Tahoe-area casinos, slot, table, counter and card winnings were down between 1.8% and 2% for the 12-month period ending June 30.
The report said properties in West Wendover reported a comparative change up 6.2%.