Nevada Casinos Set New Gaming Revenue Record
Nevada casinos set a new gaming win record in 2022 even without December’s figures included. The state’s licenced venues enjoyed US$13.5 billion in gross gaming revenue for the first 11 months of 2022. State casinos had a US$13.4 billion gaming win across 2021.
Nevada is the home to 459 licensed live dealer casinos, down from 463 in 2021. Business is booming following the enforced COVID-19-related closures, leading to another record year. The Nevada Gaming Control Board reported gaming win exceeded US$1 billion for the 21st consecutive month. However, figures for November 2022 are down 7.6% compared to the same month last year.
November 2021 was a record year for Nevada casinos, so comparing this year’s figures to the US$1.3 billion of gaming win was always going to look bad.” Michael Lawton of the Nevada Gaming Control Board explained more.
“November of 2021 represented a very difficult comparison for the state and the Strip with US$1.3 billion and US$755.1 million in total win respectively. But through the first 11 months of the calendar year, every major market in the state is up calendar year-to-date through November.”
Special Events Attract Punters to Nevada Casinos
Las Vegas in unrivalled in its ability to attract punters. It is not only high roller casino games that Nevada casinos offer, but first-class entertainment. For example, Elton John performed on November 1, The Who on November 4 and 5, and Post Malone held a concert on November 11. In addition, Adele began her Caesars Palace residency, and Kevin Hart was at Nevada casino twice.
Many of those extra people flocking the “Sin City” drop a few dollars on casino games and pokies. Indeed, the latter saw a significant increase in gaming win, with Nevada casinos winning $871.1 million from slots statewide. Roulette games, blackjack, and baccarat all saw double-digit drop-offs in gaming win. Baccarat, in particular, saw a 31.3 per cent fall for the first 11 months of the year compared to 2021.
Punters spent less and won more from the sportsbooks in Nevada casinos. Sportsbooks won US$37.7 million, a 47.7 per cent reduction. However, December could reach a record high for sports betting. The 2022 FIFA World Cup, which involved the United States, took place in December. In addition, the NFL posted a busy schedule, as did the NBA, NHL, and MLB. Americans love betting on the biggest sporting occasions.
MGM Resorts Sells Las Vegas Massacre Site
In other news, MGM Resorts has sold most of the land that was the location of the deadliest mass shooting in modern American history. Las Vegas Village, officially known as the Three Affiliated Tribes of the Fort Berthold Indian Reservation, is located across from the Mandalay Bay Hotel and Casino on the Las Vegas Strip.
The Route 91 Harvest music festival took place on the land on October 1, 2017. Stephen Paddock fired more than 1,000 rounds for more than 10 minutes from Room 32-135 of the Mandalay Bay. Some 22,000 concert goers ran for their lives. Sadly, 60 people died, and 867 others suffered varying degrees of injuries. Paddock turned a gun on himself and committed suicide in the hotel room. His motive for the attack remains unknown.
MGM Resorts settled a class action lawsuit from 4,000 survivors and victims’ families for US$800 million. The sale of the Las Vegas Village does not include the two acres MGM committed to building a permanent memorial for the tragedy.
“Having a permanent memorial is essential to our community’s healing, and we’ll continue working with and supporting the county as they move forward in the development and construction process. We know the importance this location holds to so many and have always put tremendous thought into every consideration involving the site. This is no exception.”
