The latest revenue report from the Nevada Gaming Control Board has revealed that the state’s post-pandemic recovery continues as casinos posted revenues of over $1 billion for the sixth month in a row.
August saw gaming operators win a combined total of $1.165 billion, up 22.3% on the same period in 2019 prior to pandemic shutdowns. August’s figure puts Nevada on track to hit the $12 billion annual revenue mark for only the fourth time in the state’s history. The last time Nevada’s casinos topped this figure was in 2019.
The Las Vegas Strip, which has trailed the state’s percentage totals for much of 2021, has recovered and is now less than 1% behind its 2019 figures. This is in large part thanks to a second straight month during which the Strip’s revenue was at least 20% above the figures for the same period in 2019.
This latest streak of over $1 billion per month in revenues started in March of this year and is the longest streak in 14 years when Nevada casinos collected over $1 billion per month from November 2006 to May 2007.
Although gaming revenues continue to impress, August’s total was a 14% drop on July’s figure of $1.36 billion.
Nevada Gaming Revenue Hits $1 Billion for Sixth Consecutive MonthSenior Economic Analyst for the Gaming Control Board Michael Lawton credited the reintroduction of live events in Las Vegas for the impressive revenue figures posted in August.
Nevada Gaming Revenue Hits $1 Billion for Sixth Consecutive MonthThe events included the United States men’s football team playing Mexico in the 2021 CONACAF Gold Cup final on Aug. 1 at Allegiant Stadium, and two Cirque Du Soleil shows that returned to the Las Vegas Strip – Michael Jackson One at Mandalay Bay on Aug. 19 and The Beatles Love show at The Mirage on Aug. 26. Lawton also mentioned the fight between Manny Pacquiao and Yordenis Ugás at T-Mobile Arena on Aug. 21, and the live concert by rock group Guns N’ Roses at Allegiant Stadium on Aug. 27.
Nevada Gaming Revenue Hits $1 Billion for Sixth Consecutive Month Nevada Gaming Revenue Hits $1 Billion for Sixth Consecutive Month accepted more than $427 million in wagers during the month resulting in revenues of $14.3 million. Although these figures were considerably less than those posted in August 2020, this was because the 2020 NBA Finals were delayed to August of last year. Nevada Gaming Revenue Hits $1 Billion for Sixth Consecutive MonthHowever, for the first eight months of the year, sports betting revenues are still up by 57.4% while betting activity has also increased by 36.7% when compared to 2019.
