The state of Nevada is experiencing some massive revenue gains this year. New reports indicate that Nevada gambling winnings surpassed $1 billion last month. It’s the fifth time in 2019 that casinos here have brought in more than a billion dollars.
Things are clearly going well in this state. Today, we’re going to look at which forms of gambling brought in the most money here in September. We’ll also talk about which areas of the state managed to generate the most revenue. Let’s get into it!
Nevada Proves It’s Still the Casino Capital of the US
Nevada, and specifically Las Vegas, has always been considered to be the gambling capital of the US. Recently, however, several states have expanded their gambling industries. It seemed as if some parts of the country could overtake Nevada in terms of gambling revenue.
This is beginning to seem less likely. Nevada’s Gaming Control Board has confirmed that casinos in this state won more than $1 billion in September. In total, casinos here managed to bring in $1.059 billion.
It’s a massively successful number for the state, which heavily relies on gambling revenue to function.
Casinos have now generated more than a billion dollars for the fifth time this year. Nevada gambling winnings in September even set a new record. It was the most money ever made during this month. The previous record was held in 2007.
No other state can currently compete with Nevada’s gambling industry. New Jersey is pulling in impressive revenue figures, yet it’s not quite at Nevada’s level. We’ll need to wait and see how long this winning streak continues for.
Baccarat Helps to Boost Nevada Gambling Winnings
Baccarat is one of the most popular casino games in the world. In case you’re unaware, this is a common table game available in almost all Nevada casinos. It’s grown extremely popular over the years and has proven to be a huge earner for casinos around the country.
According to the Nevada Gaming Board, this game helped to generate a significant amount of money last month. Michael Lawton, a senior research analyst for the Gaming Control Board, commented on the earnings from this game to the media this week.
“Baccarat held 19.47 percent compared to a very weak 9.81 percent last year,” he said. “This stronger hold offset soft volumes, as baccarat volume totaled $557.1 million which was a decrease of $160.7 million or 22.4 percent (from last year).”
Interestingly, Lawton claims that baccarat’s trends aren’t exactly great.
“Although this month’s baccarat results were a significant improvement over last year, the long-term trend for the state’s baccarat business remains choppy at best, as win is currently down 9.3 percent calendar year to date and volumes are down 12.4 percent.”
Slot machines also contributed to Nevada gambling winnings last month. This form of gambling helped to bring in $690.2 million. This represents an 8.3% increase from the same month in 2018.
Las Vegas Continues to Bring in the Most Money for Nevada
Las Vegas is home to many of the biggest and best casinos in the world. The Las Vegas Strip, in particular, features a massive number of world-class gambling venues. Most of these casinos generate a huge amount of money every single month.
Overall, Clark County managed to bring in $913.6 million in September. This is up more than 8% from the same period last year. Las Vegas Strip revenue increased by 7% to $584.2 million.
Amazing, Downtown Las Vegas experienced the biggest Nevada gambling winnings increase last month. This area of the city brought in $65.9 million, an increase of 19.9% from 2018. This is great news, considering gambling revenue in the Downtown area fell last month by 1.9%.
Nevada has seen its casinos generate an increase in revenue for the past four months. Soon, the Las Vegas Convention and Visitors Authority will release the state’s official tourism numbers from last month.
Nevada gambling winnings continue to increase. Stay tuned for more casino news on this city over the next few months!