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ASSOCIATED PRESS
The Mandalay Bay hotel and casino reflects the last sunlight of the day along the Las Vegas Strip in Nevada in September 2018. Nevada casinos reaped more than $1 billion in winnings in October, marking the sixth time this year the state has topped the mark in a key monthly index of fiscal health.
LAS VEGAS >> Nevada casinos reaped more than $1 billion in winnings in October, marking the sixth time this year the state has topped the mark in a key index of fiscal health, regulators said Tuesday.
Despite the strong monthly showing in the Nevada Gaming Control Board’s report, house winnings were still below a year ago because October 2018 was an exceptionally good month, topping $1.06 billion, board senior research analyst Michael Lawton said.
That means the $1.02 billion reported last month was down 3.8% compared with the same month a year ago.
Nevada casinos also took in nearly $1.06 billion in winnings in September — a record for any September and a high-water mark for 2019.
“In the overall picture, six times this year is great,” Lawton said of exceeding the $1 billion mark.
Casino winnings for the first four months of the fiscal year were up nearly 2.5%.
Lawton noted that October 2018 had the highest casino winnings since October 2007, which was the best-ever for that month, at $1.17 billion.
The state collected $62.3 million in taxes based on the October 2019 revenue, up 9.4% from a year ago, according to the report.
Lawton attributed the results to weather, the number of events in Las Vegas and a surge in football sportsbook betting.
Nevada sportsbooks won $49.7 million last month, up 61.7% from last year, he said.
House winnings decreased last month on games including baccarat, blackjack and roulette. Slot machine figures were almost flat, with casinos reporting winnings of $699 million, up less than 1 percent.
Gambling tax revenue is second only to sales taxes as a percentage of the state’s annual budget. Nevada has no state income tax.
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