Summary
- Nevada casinos have earned $1bn or more monthly for 15th consecutive months.
- May’s $1.3bn was higher than the same month in 2021 by 5.7%.
- The month was the fourth highest of all time for the state
Casinos in Nevada are doing quite well. So much so, that revenue totals each month are basically record-setting. The Gaming Control Board recently provided the monthly totals for this past May, showing the state brought in $1.3 billion for the month.
This was more than the $1.23 billion earned in May of last year and over 32% more than May 2019! This is an amazing feat considering the state has had to deal with the COVID-19 virus for the past few years which has negatively affected earning potential.
Strip Casinos Hit Record-High
Casinos on the Las Vegas Strip had an incredible month, earning just over $731 million for May. This was the highest ever total for the Strip in a May ever. The figure was over 11% more than what was earned in the same month last year.
The increase has been attributed to baccarat gaming being on the up and up, with a 24% rise from previous totals. Table games were up over 10% which helped to increase earnings.
Special events also took place in May with two major concerts, plus the Electric Daisy Carnival and a boxing match between Canelo Alvarez and Dimitry Bivol.
Clark County Pushing the State Forward
While the Strip did well, it’s the Clark County totals that really helped boost the overall monthly earnings. The county as a whole brought in over $1.1 billion. This was the largest May for the county ever recorded and the fourth highest total of all time for a month in the state. The amount earned in the county brought in over 80% of the overall month earnings.
Most of the markets in Clark County saw a double digit increase when reviewing May 2021 and 2019 totals. The only exceptions were Laughlin and North Las Vegas. Northern Nevada casinos seem to have been affected by one less weekend in the month which led to less traffic.
Downtown Las Vegas did well too in the southern portion of the state. The region saw a year over year increase with casinos earning just over $78 million in revenues. This was an increase of over 5% and the markets highest ever May earnings.
It seems the month was truly lucrative for most areas of Nevada and seem to be a strong indicator that the state is on the mend as COVID-19 still lingers on. It will be interesting to see if inflation starts to effect the tourism numbers in Nevada and if the state will continue to see such high revenue numbers or if players will slow down spending and visits to the area.
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