Gaming win for Las Vegas operators up 23% in April to $593.5m

April was another successful month for operators at the Las Vegas Strip in Nevada, judging by figures released by the gambling regulator last week. The Nevada Gaming Control Board (NGCB) released its report for gaming revenues and collections, revealing that the gaming win last month hit $1.13 billion.

This result marked a solid 8.57% increase when compared to the $1.04 billion in gaming win recorded during the same period the prior year. What's more, April was the 14th month in a row for gambling operators in Nevada to report revenue surpassing $1 billion.

Looking at the bigger picture, the gaming win for the fiscal year increased as well. The NGCB's latest report revealed that the fiscal year-to-date gaming win hit $12.1 billion for the period until April 2022. This marked a 46.3% increase when compared to the fiscal year-to-date period between July 2020 and April 2021.

In contrast to the increase in gaming win, the state collected fewer taxes in May this year based on taxable revenues from April 2022. This year in May, Nevada collected $69.9 million in tax proceeds, down 12% when compared to the $79.5 million in taxes collected for the same period last year.

A breakdown of the gaming win showed that Clark County, the home of the famous Las Vegas Strip, has seen an increase in gaming win last month. Gambling operators in Clark County reported a total of $960.5 million in gaming win, up nearly 11% when compared to the $865.4 million in gaming win from the same period the prior year.

The growth of the gaming win in April was primarily driven by the Las Vegas Strip. Overall, the gaming win for the operators within the Strip last month was $593.5 million, up nearly 23% when compared to the $483.3 million from the same period in 2021.

Only two other districts that are a part of Clark County reported an increase in gaming win for April when compared to April last year. Operators within Laughlin have seen their gaming win in April increase by 0.55% to $45.7 million, while operators in Mesquite saw gaming win hit $16.6 million, up 7.23%.

With that in mind, other areas a part of Clark County reported a decrease in their gaming win when compared to the same period last year. The gaming win for Downton operators decreased 11.4% to $67.4 million, while Boulder Strip's gaming win halted at $72.5 million, down 10.3%. Similarly, the gaming win for operators within North Las Vegas decreased 5.90% to $24.8 million this April.

While overall Clark County's gaming win increased by nearly 11%, operators within Elko County saw their gaming win increase by only 3.49% to $33.6 million last month when compared to the same period last year. When compared to April last year, the gaming win for operators in Washoe County decreased by 2.44% to $85.3 million last month. Another decrease in gaming win was reported for the South Lake Tahoe area. Licensed operators within that area saw their gaming win decrease by 15.02% to $18.5 million in April this year.

Image credit: Pixabay.com