Nevada cites strong previous year as casino win falls in May

nevada

Nevada cites strong previous year as casino win falls in May1 July 2016

The Nevada Gaming Control Board has highlighted a particularly strong performance in May of last year as the main reason behind a year-on-year decline in casino win during the same month this year.

Total gaming win for Nevada in May came in at $958.1 million (€864.1 million), which represented a 4.5% drop on the amount collected in May last year, a month in which the state’s gambling hub of Las Vegas hosted a number of major events, including the boxing bout between Floyd Mayweather and Manny Pacquiao, which attracted additional tourists.

However, this amount does represent a significant increase on the total gaming win for April of this year, in which Nevada collected $876.1 million.

Overall game and table win in May dropped 18.4% year-on-year to $328 million, with baccarat suffering in particular as win from the game fell 18.9%.

The Nevada regulatory body also noted that casinos took $24.7 million worth of transferable tax credits they purchased from Tesla, which in turn then reduced total win by the same amount, accounting for more than half of the $45 million drop in total win this year.

Despite these losses, Nevada remains the most successful state in the US in terms of generating revenue from legalised gambling activities.

 

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July 5, 2016: posted in News And Reviews No Comments

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