Drop in Nevada gaming wins
Nevada’s casinos reported a total of $743m in gaming wins, according to the Win Revenue Summary for August 2020 recently published by the Gaming Control Board, marking a 22% decrease compared to $953m reported for August 2019. For the ongoing fiscal year from 1 July, 2020, to 31 August, 2020, gaming win dropped by 24%.
The state collected $78m in percentage fees through 28 September, 2020, according to the taxable revenues generated in August. Compared to $50m in fees collected in September last year, it marks an increase of $28m or 56%. However, it still doesn’t reach the $126m collected for June.
On its own, the Las Vegas Strip earned $317m in revenues, a 39% drop from $521m reported the previous year. For fiscal year-to-date, it reported $647m against $1.06bn for the same period. But not every casino in Clark County reported losses. Boulder Strip reposted an almost 30% increase to $70m for August, compared to $54m for the same month in 2019.
Casinos in Nevada were forced to temporarily close mid-March due to coronavirus, with many venues now welcoming guests again at limited capacity. Governor Steve Sisolak said the state will loosen some of the safety measures this week.
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