- Year on year comparison sees an increase of 2.9% won from gamblers for the fiscal year which ended in June
- Casinos on the Las Vegas Strip, won close to $6.5 billion during fiscal 2016-17
The Nevada Gaming Control Board released figures on Thursday highlighting the state’s best performing June for a decade, with poker rooms raking in a combined $16.67 million from cash games throughout the month as part of a financial year which saw the sector see a 2.9% annual rise in ‘Casino Win’ revenue.
In June 2007, the state reported takings of $17.66 million from poker rooms, but this coincided with the poker boom of the noughties in which there were 960 cash game tables in operation. In June, this year, there were only 731 representing a 23.8% reduction in tables.
WSOP the reason for the big month
In May, Nevada’s takings were $8.91 million, however, as reported above, June saw a total revenue of $16.67 million, that is a remarkable 87% increase in performance.
The month before the tournament started, there were a reported 270 tables on or around the strip which saw an increase of 50% over the tournament period and is a major factor in the 87% revenue increase.
Strong Annual Performance for all Gambling wins
It is not just the month of June and poker that saw a revenue increase, the period from July 2015 to June 2016 reported figures of $11.1 billion from all gambling wins. However, for the period of July 2016 to June 2017, the Nevada Gaming Control Board reported “casino win” figures of $11.4 billion.
Nevada state senior board analyst Mike Lawton kept it short and sweet when asked about the annual performance, “We had a nice year,” he said after the figures were released and showed the sixth increase in seven financial years.
Slots are on the up, baccarat on the way down
Slot games are ever on the rise and Nevada is no different with the state recording another year on year increase in revenue of 2.9% to $7.3 billion.
However, an area that appears to be on its way down is baccarat, in which winnings were down by 2.9% to a measly $1.2 billion.
The new Lucky Dragon Hotel and Casino located in downtown Las Vegas which opened in November last year, will have played its role in the solid fiscal performance.
With more hotels and casinos in the offing, it is likely that ‘casino win’ income will increase dramatically over the next few years.
That said, a majority of hotels and casinos in the state are looking at other means of sourcing additional revenue, including more restaurants, making more hotel rooms available and other forms of entertainment such as shows and shops.
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