Nye County gaming operators are still showing no signs of slowing down with 10 consecutive months of positive growth in gaming win.
Gaming establishments in the county saw an increase of 14.72 percent for April 2018 over the same month a year earlier, according to a report by the Nevada Gaming Control Board. Gaming revenue for the county equated to over $4.6 million, compared to just over $4 million in April 2017.
In an article in the Pahrump Valley Times on May 26, Michael Lawton, senior analyst with the Tax and License Division of the Gaming Control Board, was quoted as saying the growth in gaming revenue in the county “corresponds to positive trends being seen both nationally and locally throughout Nevada, which include increasing median home prices, which are highly correlated to gaming revenues, unemployment decreasing, along with rising average weekly wages.”
“This consistent growth pattern is being seen in several markets and not just Nye County,” Lawton said in the Times article pertaining to positive increases seen through March by Nye County gaming operators.
First quarter recap, yearly totals
Nye County gaming operators also saw a double-digit percentage increase in overall gaming revenue in March 2018, when compared to the same time a year earlier. In March 2018, gaming operators pulled in $4.7 million in gaming revenue over March 2017’s $4.2 million — an increase of 12.59 percent, according to the state’s gaming control board.
The start of 2018 was positive for county gaming operators, though it was not as positive as the more recent months. In January, gaming revenue was 1.83 percent higher than January 2017’s totals, with February climbing over 4 percent above year-ago totals.
On an annual basis, gaming operators saw an increase of 10.18 percent through the end of April 2018 with the period beginning at the start of May 2017. County gaming establishments collected close to $52 million in that time frame.
Nye County’s longest stretch of positive increases ran for 38 consecutive months, from August 2003 to September 2006, according to Lawton’s research.
The highest calendar year on record for county gaming establishments was in 2006 with $67.1 million in gaming win. In 2017, there was $50.6 million in overall revenue brought into Nye County—24.6 percent below the peak, according to data from the control board.
Clark County gaming operators also saw positive increases in gaming win. The overall Clark County area saw an increase of 8.1 percent through April 2018 with revenue of over $825 million.
Operators on the Las Vegas Strip had gaming revenues of nearly $500 million—an increase of 5.1 percent. Gaming establishments in the downtown area of Las Vegas saw an increase of 15.6 percent in April over the same time a year earlier with $60.5 million in revenue.
Revenues across the state also rose for the month of April by 7.7 percent over April 2017.
One streak did end for Nevada in April. With revenues equaling $953.7 million for April, statewide, this is the first month in 2018 where revenues did not reach the $1 billion mark or higher. The state saw totals reach at least that mark for the entire first quarter of 2018.
Contact reporter Jeffrey Meehan at firstname.lastname@example.org