Nevada casinos take in record $1.23B in winnings in May
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LAS VEGAS (FOX5) -- Nevada is reporting another massive gaming win in the month of May.
The Nevada Gaming Control Board reported a gaming win of $1.23 billion in May 2021. It shows massive gains from May 2020 when casinos were still closed due to the COVID-19 pandemic; a 20,970% increase from the previous year.
For the fiscal year starting July 1, 2020 through May 2021, Nevada's gaming win has increased 8.09%.
It also shows an increase in gaming from 2019, before the pandemic. NGCB reported a $981 million gaming win in May 2019, a difference of about $248 million when comparing May 2019 and May 2021.
In May, 2.9 million people visited Las Vegas, according to the Las Vegas Convention and Visitors Authority, an increase of nearly 12% from April. Hotel rooms were about 71% occupied on average over the month, with weekend occupancy climbing to 88%.
The visitation rates and hotel occupancy rates still have a way to go to match levels set in the same period in 2019.
Comparisons to last year weren’t relevant because casinos were closed statewide from mid-March to early June 2020 to mitigate the spread of COVID-19.
Michael Lawton, a senior analyst with the Nevada Gaming Control Board, said the May casino win was driven by a record revenues for slot machines on the Las Vegas Strip at $358.3 million and robust baccarat revenues.
Casinos on the famed Las Vegas Strip won $655.5 million last month, up nearly 27% percent from the same month in 2019.
Statewide, operators of sports books took in $477.4 million in bets, up 50% from May 2019 and won $27.1 million, up 140% from from the same month two years ago. Both were records for the month of May, Lawton said.
The May gambling revenues generated $107 million in tax revenue for the state of Nevada. Casino taxes are second only to sales tax as a percentage of Nevada’s annual budget. The state has no personal income tax.
