The incredible recovery of the casino gaming industry continues in Nevada!
While Macau is now in the doldrums, Nevada’s 441-plus casinos in the United States saw their combined gross revenues rise nearly 7.8 percent year-over-year in September, surpassing the $1 billion mark for the 19th consecutive month.
Nevada casinos: revenue tops $1 billion…
… once again! Indeed, according to an article published last October 27 in the Las Vegas Review-JournalNevada’s casino revenue for the month of September surpassed $1 billion for the nineteenth consecutive time ($1.25 billion, to be exact).
According to the Las Vegas Review-Journalonly twenty of the land-based casinos in the U.S. federal government have not experienced a increase in gross revenues. Five of them, however, saw their PBJs increase by double digits! For example, the largest increase seen was in the South Lake Tahoe area casinos, where casino gaming revenues exploded (+394.9%) to just over $27.92 million.
Also according to the newspaper, Clark County casinos saw their September gross receipts increase 5.6 percent over the same period last year to about $1.06 billion, while establishments along the famed Strip in Las Vegas recorded an 8.2% increase in revenue to $692.96 million.
The Las Vegas Review-Journal finally reports that the casinos located in the downtown Las Vegas (Downtown Las Vegas) reported a revenue increase of 1.6 percent to $74.21 million. In the Boulder Strip – an area that includes Henderson City locations, among others – revenue for September was $74.41 million, down 8.7 percent.
Nevada Gaming Control Board:” Uneven results in the coming months “
According to Michael Lawton, senior financial analyst for the regulator Nevada Gaming Control BoardThe results in the South Lake Tahoe area are astounding in that they came at a time when local communities were still recovering from the devastation of the previous year’s wildfires.
Michael Lawton also added that September 2022 had one more weekend than 2021, not to mention that the former was marked by a ” calendar of particularly strong cultural and sporting events “which saw Las Vegas host “ a wide range of concerts, music festivals and high-profile sporting events “.
However, the analyst warns, ” We expect growth rates to be more moderate. All Nevada counties are expected to post inconsistent results in the coming months, making any year-over-year comparison difficult “.