The Nevada Gaming Control Board (NGCB), the gambling operator in the state, released its newest revenue and collections report, outlining details regarding the performance of nonrestricted gaming operators for September this year. The new report emerged Tuesday and saw nonrestricted gaming licensees across the state report a total gaming win of $1.27 billion this September. A year-over-year comparison to the $1.24 billion result from September 2022 shows an increase of 1.69%.
While the total gaming win increased slightly this September, taxes collected from gambling marked a decrease. Based on the taxable revenues generated for September this year, Nevada collected $77.6 million in taxes. This result, compared to the $80.5 million in taxes collected for the corresponding period last year marks a decrease of 3.59%.
Focusing on fiscal year-to-date results, the total gaming win marked an uptick. Overall, the gaming win for the fiscal year through September 2023 hit $3.88 billion. Compared to the $3.77 billion result from the same period the prior year, an increase of nearly 3% is observed.
Similarly, fiscal year-to-date results for taxes showed an uptick. Overall, for the current FY24, Nevada collected $333.4 million in taxes, some 1.13% more when compared to the FY23 result of $329.7 million.
The latest results come at a time when early in September, the 2023 NFL season kicked off and undoubtedly impacted the gaming win positively. Later this month, the F1 Las Vegas Grand Prix, scheduled between November 16 and November 18, is expected to boost tourism across Sin City, bringing more revenue for the hospitality and gaming industry.
Most Counties Post Decrease in Gaming Win
A breakdown of the $1.27 gaming win reported in September reveals that the lion’s share was reported by Clark County. This comes as no surprise, considering that Clark County is the home of the Las Vegas Strip. The total gaming win reported this September for Clark County increased by 2.79% to $1.09 billion.
As usual, the Las Vegas Strip posted the highest gaming win, hitting $741.2 million this September. A comparison to the $693.1 million result from September 2022 reveals that gaming win this year increased by nearly 7%.
In contrast to the positive result, downtown and North Las Vegas operators posted a decrease in their gaming win. Downtown operators reported $68.4 million in gaming win, while North Las Vegas operators saw $23.3 million in gaming win, marking a decrease of 7.86% and 0.84% respectively.
While Laughlin operators saw their gaming win increase by 6.43% to $41.6 million in September, Boulder Strip gaming licensees’ revenue plummeted by 9.43% to $67.4 million.
Unlike Clark County, other counties across the state posted a decrease in their gaming win for September. Washoe County’s gaming win was down 6.62% year-over-year to $91.7 million, while South Lake Tahoe operators posted a decrease of 5.66% in gaming win to $26.3 million. Elko County’s gaming win this September was $33.4 million, down by nearly 1% year-over-year.
Velimir Velichkov
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