Nevada casinos win $1.3 billion in October, a sign of big things to come; downtown sets record

LAS VEGAS (KLAS) — Nevada casinos won $1.3 billion from gamblers in October, the sixth-highest month in state history. And casinos appear to be on the verge of posting even higher numbers in the months ahead.

The tourism-driven economy revved its engines for the F1 Las Vegas Grand Prix, and numbers for the Strip could soar to new highs when November numbers come out at the end of the year.

How high could they go? Nevada collected $83.1 million in percentage fees during November through Tuesday, Nov. 28 — an 8.72% increase compared to November 2022, according to information released Thursday by the Nevada Gaming Control Board.

An executive from MGM Resorts International recently said the Formula One weekend brought in the highest hotel revenue in the company’s history. Dealers at Wynn Resorts reportedly split $1 million in tips that weekend.

Anticipation over the new Durango Casino & Resort in the southwest valley (opening Dec. 5) and Fontainebleau Las Vegas (Dec. 13) on the Strip have stoked optimism going into a typically slow December. And Super Bowl LVIII could top all of that in February.

Casinos on the Strip won $714,481,804 — a good result, but not even in the Top 10. Road work and construction disruptions related to F1 might have dented the Strip’s October showing.

Downtown was where the action spiked in October, with casinos hauling in a record $97.5 million. That’s nearly $7 million more than downtown’s previous high, $90.4 million in October 2022.

The Boulder Strip had its fourth-highest total at $88.6 million. And other locals casinos, which fall under the “balance of Clark County” group, had their fifth-highest gaming win at $149.4 million.

The statewide win, $1,315,114,434, is an increase of 2.69% over compared to last October.

So far in the current fiscal year, which began in July, Nevada is 2.85% ahead of last year’s pace.

Original News Source Link – KLAS

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