Continuing advancement for Nevada casino revenues
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Nevada's casino revenues for August increased by 56.9% year-on-year to surpass the $1 billion milestone for a sixth consecutive month. The 466 casinos collected $ 1.166 billion from players in August. Las Vegas Strip casinos recorded a swell of 97.2% in revenues year on year to $625.7 million. Clark County casinos posted 67.3% increase in revenue year upon year, while North Lake Tahoe posted a 9. 3% rise.
US Route 50 was closed due to forest fires in the Sierra Nevada Mountains. Lake Tahoe casinos had to close from the end of August. Las Vegas casinos benefited from post-coronavirus return of popular shows.
Nevada casino win was up by 7.8% in August compared to the same month in 2019. Las Vegas Strip, North Las. Vegas, and Laughlin areas recorded numbers that were inferior to two years ago. Downtown Las Las Vegans posted revenues that improved by 23.2%. Off-Strip venues saw an improvement of 18.9%.
Joseph Greff works as an analyst for financial services behemoth JPMorgan Chase and Company. He reports that the year-to-date casino revenues in Nevada are indicative of a ‘robust recovery’ with tax collections for the current fiscal year up by 11.4% year on-year to $263.9 million. Slot win from casinos located along the Las Vegas Strip has risen by 38% since 2019.
