Nevada casinos report ninth straight month of $1 billion house winnings, a record

- Advertisement -

Nevada casinos set a record in November, reporting their ninth straight month of $1 billion or more in house winnings, gambling regulators said on Wednesday, providing another indication that the country’s tourist-dependent gambling mecca Business is back to pre-pandemic levels.

- Advertisement -

The Nevada Gaming Control Board report said $1.32 billion in statewide casino winnings last month was up from $1.22 billion in October, and reached a record high of $1.36 billion last July.

- Advertisement -

Michael Lawton, senior analyst on the board, said the streak broke the previous record for eight consecutive months before the Great Recession, from October 2006 to May 2007.

Nevada Sports Betting also set a record – raising a record $72 million on sports bets worth $1.1 billion in November.

- Advertisement -

Lawton said the previous record was $61.8 million in sports bets won by casinos in November 2020, and noted that sportsbooks placed more than $1 billion in bets for the first time in consecutive months. Most sports bets were made with mobile betting apps.

“Continuous acceptance of the mobile sports juggernaut by customers is driving these results,” Lawton said. “The month represents the highest monthly totals recorded in mobile (bets) since the board began tracking these bets in January 2020.”

Business has generally been buoyed by visitors with money to spend, Lawton said, and a continued rebound of leisure travel and the early November return of airline flights from international locations other than Canada and Mexico.

Special events and entertainment helped increase casino winnings year-over-year to nearly 12% from 2019 levels. Lawton said only North Las Vegas and Laughlin are below 2019 calendar year levels.

Most economic and revenue comparisons do not use 2020, when many businesses closed due to the COVID-19 pandemic.

The report said Nevada collected about $93.6 million in tax revenue based on November’s figures.

Lawton noted that throughout the month’s events in November included the return to Las Vegas of the large automobile-oriented Specialty Equipment Market Association trade show; The beginning of the amusing Sting’s residence in the Colosseum at Caesars Palace; a Rolling Stones concert at Allegiant Stadium; boxing at the MGM Grand Arena and Mandalay Bay Events Center; and two Las Vegas Raiders home games.

The report comes with the newly named Harry Reid International Airport reporting an increase in passenger traffic to levels seen two years ago.

The former McCarran International Airport reported Tuesday that it handled nearly 4 million incoming and outgoing passengers in November, down just 4.4% from the same month in 2019.

The Las Vegas Convention and Visitors Authority reported 3.1 million visitors during the month, down 8% from 3.4 million in October. The regional tourism agency reported an average daily room rate of about $156, up 15% from November 2019.


- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox