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Best of Howard Stutz

Gaming Guru

Howard Stutz

Gaming revenue climbs 7 percent in Nevada, 13 percent on Strip

10 May 2013

LAS VEGAS -- Nevada gaming revenues grew 7 percent in March, the state’s second straight monthly revenue increase.

The Nevada State Gaming Control Board Gaming Commission said Friday casinos statewide collected $914.8 million from customers during the month, an increase of 7.04 percent compared to the same month a year ago.

On the Strip, gaming revenues hit $507.6 million, an increase of 13.1 percent.

The monthly totals followed February’s $1.073 billion revenue take statewide, which included a record-setting $696.1 million in gaming revenues from Strip casinos. The month was fueled by calendar switch for Chinese New Year, which attributed to recard baccarat wagering.

For the first three months of the year, statewide gaming revenues are up 2.6 percent. Strip gaming revenues are up 6.7 percent. In 2012, the Strip produced $6.2 billion in gaming revenues.

On a whole, Clark County gaming revenues grew 7.4 percent in March. Downtown casinos saw gaming revenue totals increase 5.3 percent, but other areas, such as Laughlin, North Las Vegas, and the Boulder Strip, all suffered monthly declines.

Washoe County, which includes Reno, saw gaming revenues increase 9.5 percent. Reno’s casino market experienced a 10.8 percent increase during March.

Gaming taxes collected in April based on March’s gaming revenues were $78.3 million, an increase of 9.62 percent over the same period a year ago. For the first 10 months of the fiscal year, gaming tax collections are up 3.78 percent.