Nevada’s $1 billion revenue streak extended

by Charlotte Lee Last Updated
Nevada casino's $1 billion revenue streak extended

Casinos in Nevada are cleaning up, with six consecutive months of gross gaming revenue of at least $1 billion.

Casino.org reports that revenue from gamblers in August totalled $1.165 billion, which is 57 percent better than August 2020, when the industry was still dealing with operating restrictions because of COVID-19.

Clark County, home to downtown Las Vegas and the Strip, reported gross gaming revenue of $993.4 million, a more than 67 per cent year-over-year gain.

Strip casinos kept $625.7 million of gamblers’ bets, which was almost double what they won in August 2020.

August’s haul followed a record-setting July, where Nevada casinos won $1.35 billion.

That is the all-time highest monthly gaming revenue number in the state’s 90-year history of legal gambling.

“Nevada continued to record gaming win amounts in excess of pre-pandemic levels in August, with $1.2 billion in win.

“This was up 22.3 per cent over 2019,” senior research analyst at the Nevada Gaming Control Board Michael Lawton said.

“Strong demand across markets, federal stimulus, the continued rebound of leisure travel, and the return of special events and entertainment continued to propel gaming win past 2019 levels,” Lawton added.

More arrivals and domestic travel help boost Nevada casinos

The summer met and exceeded many expectations.

Domestic travel to Southern Nevada continues to improve towards reaching pre-pandemic levels, and casino resorts reported strong bookings throughout the summer.

The past six months have certainly been good for Las Vegas.

In December, the Las Vegas Convention and Visitors Bureau said visitor volume remained down 64 per cent from December 2019.

Fast forward to July and visitor traffic was down only 10 per cent from the same month in 2019.

Hotel occupancy has improved nearly 42 per cent during that time frame too.

More people are also arriving in Southern Nevada by air than they were six months ago.

McCarran International Airport reports that Las Vegas’ main air hub served 3.8 million passengers in August, which is down 14.1 per cent from August 2019, but is more than double the 1.7 million passengers that the airport served in August 2020.

Lawton said in his August revenue commentary that Nevada’s six month run of casinos winning upwards of $1 billion is the second longest streak in state history.

He explains that the record is eight months, which was set between October 2006 and May 2007.

Nevada casinos through eight months of 2021 are now 7.8 per cent ahead of where they were at this time in 2019.

That year, Nevada gross gaming revenue eclipsed $12 billion.

The state has only surpassed the $12 billion mark three times. The other times were in 2006 ($12.62 billion) and 2007 ($12.84 billion).

Nevada’s gross gaming revenue of $7.8 billion in 2020 was the state’s lowest yearly win since 1997.

Vegas’ newest cashless casino

The new $4 billion Resorts World Las Vegas integrated resort introduced the Strip’s first truly cashless casino when it opened on June 24.

Using Konami’s SYNKROS management system, members will have access to a digital wallet and cardless log-in, with funds able to be deposited either at dedicated kiosks, at the player services desk or via external funding sources such as their bank or Paypal account to load their wallet.

Resorts World Las Vegas said the solution will allow guests the flexibility to transfer funds in and out of their wallet and linked account without leaving their seat.

Loyalty cards will also be available in three different formats, including a physical card, digital card or simply by entering their phone number at any poker machine.

The RWLV opened with 1400 poker machines, 117 table games, a dedicated poker room and 30 poker tables, plus high-limit areas and a sportsbook with more than 117,000 square feet of gaming space.

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