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Nevada casinos end fiscal year with winnings up 3.2 percent

July 31, 2018
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FILE--This Oct. 8, 2017, file photo shows the Las Vegas Strip in Las Vegas. State regulators say gambling revenue at Nevada casinos increased 3.2 percent during the fiscal year that ended June 30, 2018. (AP Photo/Steve Marcus, file)

LAS VEGAS (AP) — Gambling revenue at Nevada casinos increased 3.2 percent during the fiscal year that ended June 30, surpassing $11.8 billion and continuing a trend of modest growth.

Data released Tuesday by the Nevada Gaming Control Board show all 16 markets closely monitored by regulators saw winnings increase between July 2017 and June 2018. Casinos on the Las Vegas Strip raked in more than half of the statewide revenue.

“We are happy with that increase,” Mike Lawton, senior analyst with the control board, said of the statewide winnings. “We like to see that widespread growth across all markets. We haven’t had a report like this in quite some time. Every one of those markets is in positive territory. That hasn’t happened since fiscal year 2000, where every market came in positive for the fiscal year.”

Statewide revenue has increased in seven of the last eight fiscal years.

Lawton said the positive trend was driven by an increase in slot revenue, which added up to more than $7.5 billion. The $257.6 million year-over-year increase accounted for about 70 percent of the total statewide revenue growth.

Revenue from table, counter and card games, including sports betting, increased from more than $4.1 billion to more than $4.2 billion.

Sportsbooks alone won $281.6 million, setting an all-time record. That’s up $53 million, making them the largest contributor to the table, counter and card game revenue increase.

Strip casinos during the fiscal year won roughly $6.6 billion from gamblers, up 2 percent compared with the previous fiscal year. Casinos in downtown Las Vegas reported winnings of more than $628 million, a year-over-year increase of 3.2 percent.

Casinos in Stateline saw the smallest percentage increase during the fiscal year, with reported winnings of more than $226.7 million, up 1.7 percent.

The state benefited with more than $683 million in percentage fees based on the taxable revenues.

Casinos statewide won more than $933 million in June alone. That’s up 4.2 percent compared with June 2017. Gamblers lost almost $524 million to Strip casinos, which saw their revenue increase 5.4 percent.

The casinos in Reno saw revenue grow 20 percent — the largest percentage increase last month — surpassing $59 million.

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Follow Regina Garcia Cano at https://twitter.com/reginagarciakNO

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