Record Revenue Run Continues for Nevada Gambling

Record Income Run Continues for Nevada Gambling

Feel the pandemic has killed Nevada gambling income? Do not bet on it! The Nevada Gaming Handle Board has released the numbers for September, and it is all very good news! We had reported that gambling in the Silver State was on a six-month hot streak of creating more than $1 billion a month. And now you can make it seven months, which is the second longest streak of billion dollar months ever!

The winnings for the state in September were $1.16 billion, to be precise. That’s much more than a 40% rate of growth from last year, and almost a 10% growth from 2019 prior to the pandemic hit! Casinos on the Vegas Strip accounted for far more that $640 million of the Nevada gambling profit, and Clark County as a entire handled over $1 billion for the state.

Betting on sports was also setting records, with more than $785 million placed in wagers, generating nicely more than $50 million in profit for the books. What is even a lot more exciting is that more than 60% of these bets had been placed by way of mobile apps!

All this very good news for Nevada gambling signifies that the state collected over $70 million in taxes. Even so, the streak could be nearing an end. Even although income are robust, they are trending downwards. The state took in $1.four billion back in July, which fell to $1.two billion for the month of August. With September becoming just $1.16 billion, we’ll just have to see what October generated.