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Nevada Casino Win Jumps In June, Ticks Up To End Fiscal Year

LAS VEGAS (AP) — A jump in winnings by Nevada casinos in June helped push statewide revenue figures for the fiscal year to $11.9 billion, state officials reported Tuesday.

 

The total statewide "gaming win" of a little more than $1 billion last month was up nearly 11.6% compared with June 2018 and represented the best month of June ever, said Michael Lawton, chief analyst for the Nevada Gaming Control Board.

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The results pushed what had been a flat 12 months of revenue up to finish at 0.8% compared with fiscal 2018.

 

"Gaming win has now increased in four consecutive fiscal years and eight of the last nine," Lawton said.

 

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The primary driver behind the June jump was baccarat, Lawton said, where casino winnings of nearly $158 million were up $84 million, or more than 114%, from June 2018 — one of the highest hold percentages in state history.

 

A year ago, the state reported a 3.2% overall house winnings increase from fiscal 2017. A board summary noted that growth in Nevada casino winnings has averaged 1% during the last 10 years.

 

Gambling is second only to sales taxes as a percentage of the state's $14 billion annual budget. Nevada has no state income tax.

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The report says Nevada collected $55 million in percentage fee taxes based on June figures. That was up 15.9% from a year ago.

 

The board reported last month that, through June 25, the state took in $710.5 million in taxes, up a little more than 4% from $683 million received in fiscal 2018.

 

Slot winnings statewide increased 3.5% this fiscal year, according to Tuesday's report, averaging a slight increase of 0.8% over 10 years.

 

Table, counter and card games winnings decreased 3.9% for the year, but remained up 1.5% over the decade.

 

Overall casino winnings on the Las Vegas Strip, where most of the state's gambling business is done, was down just under 1% for the year.

 

Other parts of surrounding Clark County reported overall increases including 5.9% in downtown Las Vegas, 2.5% on the Boulder Strip and 5.4% in Mesquite.

 

At Lake Tahoe-area casinos, slot, table, counter and card winnings were down between 1.8% and 2% for the 12-month period ending June 30.

The report said properties in West Wendover reported a comparative change up 6.2%.