Gambling Sector in Nevada Posts Gaming Win Increase in July

The regulator in charge of gambling activities in Nevada, the Nevada Gaming Control Board (NGCB), released Wednesday its latest report, revealing details regarding the performance of nonrestricted gaming locations for July. Judging by the latest figures, the total gaming win, posted by nonrestricted gaming licensees last month marked strong growth, hitting $1.4 billion. This result, when compared to the same period in 2022, shows that this year, the revenue increased by 6.69%.

The strong results come during a generally slower month with fewer sports events. Yet, the upcoming F1 Las Vegas Grand Prix, planned for this November, is expected to further boost the results of the gambling sector across Nevada.

The increase in gaming revenue resulted in a boost in terms of taxes. Overall, Nevada collected $95.8 million in taxes for August, based on the taxable revenues collected in July 2023. It’s no surprise that this result marked another increase. For the same period last year, the collected taxes halted at $90.4 million and a comparison to this year’s result shows an increase of 5.39%.

The recently released results reveal that July was a busy month for the gambling sector across Nevada. The $1.4 million in total gaming win also surpassed the previously reported result of $1.25 billion, posted a month earlier, in June. At the time, the total gaming win reported by the operators marked a slight decrease of nearly 3% year-over-year.

Revenue by Clark County Operators Soars

Clark County, the home of the Las Vegas Strip, posted the highest gaming win and that comes as no surprise. Overall, nonrestricted gaming licensees in Clark County saw $1.21 billion in gaming win last month, an uptick of 7.50% when compared to the corresponding period in 2022. A further breakdown reveals that the total gaming win for the Las Vegas Strip increased by 7.95% to $834.9 million, while downtown operators saw revenue of $65.4 million, up by 8.91% year-over-year.

In contrast, the gaming win reported for North Las Vegas dipped by 2% to $24.1 million, while Laughlin and Boulder Strip operators posted gaming wins of $46.9 million and $79.4 million. Those results marked an increase year-over-year of 9.46% and 9.17% respectively.

On the other hand, Washoe County posted a total gaming win of $100.5 million in July, a result that marks a 6.12% increase year-over-year. Despite the strong results for Clark County and Washoe County, South Lake Tahoe operators posted $30.9 million in total gaming win, down by nearly 3% when compared to the result from July last year. Similarly, Elko County posted a 3.02% decrease in total gaming win last month to $34.9 million.