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Nevada Gaming Revenue Hits $1.23 Billion Despite Pandemic

Gaming revenue in Nevada has hit the $1.23 billion mark. According to the state’s gaming control board, the total win is up by 25% since May 2019. The month of May also marks the third time when the Silver state surpassed $1 billion in gaming revenues. Michael Lawton, a senior research analyst for the Nevada Gaming Control Board said, “We are surprised that we hit $1 billion three months in a row. There is a strong demand, consumers are extremely healthy and vitalization to the Strip is rebounding.”

The state’s previous record was $1.7 billion as of October 2017. The revenue from every casino district in Nevada increased in May compared with May 2019. Slot machines collected $358.3 million in revenue, which came up to 24.5% since May 2019.

Hotel occupancy was down by 27% while the number of airline passengers visited was down 32% during the same time. While this is for international passengers, Downtown Las Vegas that caters to Vegas locals saw a jump in revenue by 13%. 

ALSO READ: Are Online Games Making Us Less Lonely?

Lawton mentioned that local casino markets in Nevada have kept the gaming industry humming even during the pandemic. He added, “The local and regional casinos are helping save the state and keeping its head above water. But the Strip is starting to deliver increases. It went from a single digit decrease in the month of March compared to March 2019, to a small increase in April to now a double digit increase in May. That bodes well for the Strip.”

Colin Mansfield, an analyst from Fitch Ratings who covers Las Vegas said that the state is continuously showing improvements.He further added, “This reiterates our view that the domestic gaming recovery is firming up. Vegas still lacks international visitation which will help in a more lagged recovery than domestic and leisure gaming.”

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