Nevada Wins $1B in Casino Money for Record 20th Consecutive Month

Nevada casinos get won at to the lowest degree $1 one million million in for each one of the previous 20 months. October’s numbers released Tues revealed the state’s gaming manufacture is showing no signs of a retardation despite economical headwinds.

The Nevada Gaming Control Board’s (NGCB) Oct porcine gaming revenue (GGR) story disclosed that the state’s 312 licensed gaming venues together with won $1.28 1000000000000 from players lowest month. That’s almost 5% higher than inwards Oct 2021.

Of the 19 metered markets inwards which the NGCB collects gaming data, 18 reported higher year-over-year GGR gains.

October 2022 extended the state’s running game of winning at to the lowest degree $1 one million million to 20 months. The state’s previous longest black market of casinos winning upwards of $1 1000000000 was simply 8 months. That streak endured from October 2006 through May 2007.

The Las Vegas Strip continues to fire the ongoing rally. The briny hang back won or so $705.8 billion in conclusion month, a half-percent increment from October 2021.

The Strip continued to welfare from another implausibly strong sports and entertainment calendar, which included concerts, residencies, and tercet high-profile sporting events,” said Michael Lawton, the NGCB’s senior economic analyst.

Over the yesteryear 12 months, Las Vegas Strip GGR is 30% higher. Strip casinos feature won to a greater extent than $8.2 billion off of guests during the period.

The Strip’s carrying out will ensue in the Battle Born State gaming manufacture background yet another GGR book this year. Silver State casinos won to a greater extent than $13.42 billion in 2021, which topped the state’s previous best twelvemonth of $12.85 one million million band inward 2007.

Through October, Sagebrush State GGR inward 2022 stands at roughly $12.3 billion.

Downtown Record

Downtown Las Vegas has been enjoying a gaming upsurge for many months. Derek Stevens’ considerable investment inward building Circa has energized the John Charles Fremont Street area, and that’s leading to unprecedented gaming downtown.

GGR downtown lastly month totaled to a greater extent than $90 million. That’s 19% higher than inwards October 2021.

The $90.4 billion won by downtown casinos bested the market’s previous all-time gaming revenue month of $86.4 million, countersink in March. With the NFL inwards full swing, and October existence the month when the Houston Astros won the World Series, the three-story Circa Sportsbook — dubbed Las Vegas’ largest, positive the resort’s rooftop Stadium Swim coordination compound — lured many Las Vegas guests downtown.

Revenue from sports betting accounted for nearly $14.6 trillion of the downtown market’s $90.4 one thousand thousand in gaming income.

Visitor Data Forthcoming

The Las Vegas Convention and Visitors Authority (LVCVA) will later this hebdomad vent visitant statistics for October. Though the purchasing power of the dollar bill continues to live squeezed past track record inflation, visitant intensity inward Southern Silver State has been robust end-to-end 2022.

The LVCVA previously reported that almost 3.35 trillion people visited Las Vegas in September. That was 14% higher than in Sep 2021, but remained 3.5% depress than inwards pre-pandemic Sep 2019.

Casino room occupancy rates continue to rebound from pandemic lows. Las Vegas’ to a greater extent than 150K hotel rooms were tenanted 83% of the clip in September. While that’s 10% improve than the same month inward 2021, the value is ease 5.2% lower than in September 2019.

Convention business organization continues to improve in Southern Nevada, but large-scale expo attendance numbers are still land most 20% from 2019.