Gaming operators in Nevada reported strong revenue for July, judging by details released by the gambling regulator.
NGCB Unveils Financial Results for July
On Tuesday, the Nevada Gaming Control Board (NGCB) released the financial results for licensed operators showing that the gaming win in July hit $1.3 billion. Although this was a strong result which marks the 17th month in a row with gaming win above $1 billion, a year-over-year comparison for the same period shows a slight 3.2% decrease. Despite the slight decrease when compared year-over-year, the gaming win last month increased when compared to the pre-pandemic period. In July 2019, the gaming win halted at $1 billion, while back in July 2018, it hit $995 million.
A breakdown of the results shows that the gaming win for Clark County operators hit $1.1 billion last month. When compared to the $1.2 billion reported for the same period in 2021, a slight decrease of 3.3% is observed. What’s more, the gaming revenue this July did not surpass the $860 million reported for pre-pandemic July 2019.
Downtown Operators’ Revenue Plummets
The NGCB provided a further breakdown of the gaming win reported by Clark County operators. Not unexpectedly, Las Vegas Strip operators reported the highest gaming win last month. In total, the gaming win for Strip operators was $773.4 million, down 2.4% when compared to the $792.6 million reported for July last year. Although July was a strong month for Strip operators, this was not the case for Downtown operators. Last month, the gaming win reported by Downtown gambling venues was $60 million, down 15.6% when compared to July 2021.
Operators located within North Las Vegas reported $24.6 million in gaming win, marking nearly a 4% decrease when compared to the same period last year. On the bright side, Boulder Strip operators saw $72.7 million in gaming win last month. When compared to July last year, this result marked a 3.6% increase.
Gaming licensees located within Washoe County reported $94.8 million in gaming win for July. That result marked a slight 5.3% decrease when compared to the $100 million in gaming win reported for the same period in 2021. South Lake Tahoe operators reported $31.8 million in gaming win last month, while Elko County’s gaming win increased to $36 million.
According to the NGCB, the state collected $90.4 million in taxes based on the taxable revenues generated by gambling operators in July 2022. When compared to the $97.7 million in taxes collected in July 2021, a decrease of $7.3 million or 7.48% is observed.