For the second straight month, Nevada casinos combined for more than $1 billion in revenue.
The Silver State casinos won $1.04 billion from gamblers in July, according to numbers recently released by the state’s gaming control board. It was the second straight month with a 10-figure win for the casinos and the fourth time this year.
July’s win represents a 2.9 percent increase from July 2018 thanks mostly to a 4.4 percent increase in slot machine revenue. Gamblers lost $695.87 million in slot machines in July, with $307.1 million coming in penny slot machines.
“These are welcome numbers for sure,” said Michael Lawton, the board’s chief analyst told the Las Vegas Sun. “We’re seeing nice, consistent increases in slot machine volume and win.”
Unlike slot machines, baccarat continued to be a source of pain for Nevada casinos. Revenue from baccarat was down 23.7 percent year-over-year.
Not surprisingly, Clark County made up most of the revenue with $860.4 million coming from the county that holds Las Vegas. The figure is a 2.55 percent increase from a year ago. The Strip was up 1.63 percent with its casinos winning $541.8 million.
The state took $73.9 million of that revenue in taxes, which was 32.5 percent more than they took from the casinos last year. The casinos were awarded tax credits that totaled $20.1 million this time last year which is the reason behind the drastic increase.
South Lake Tahoe casinos saw the biggest increase. Those properties generated $34.99 million in revenue, up a whopping 32.5 percent.
Only two areas reported decreases in July. North Las Vegas was down less than one percent and Washoe County, outside of Reno, Sparks and North Lake Tahoe, was down 10.3 percent with $5.5 million in revenue.