A fantastic sign that the world is returning to some semblance of normalcy is the revenue generated by Nevada’s land-based casinos which broke a quarterly state record for Q2 2021 with $3.46 billion in house winnings.
As the world has begun to come to terms with the recent pandemic and adjusted its patterns to normalise social distancing, hand sanitation and other safety measures the Nevada gambling industry saw a resurgence in its previously flagging fortunes.
In addition to June’s amazing house winnings of $1.19 billion, both April and May each have generated more than $1 billion respectively, seeing Nevada casinos generated an astounding $3.46 billion for the second quarter of the year. A figure which was revealed to be the gambling regulators largest quarter in state history.
Handing Out Gold Stars
The Nevada Gaming Control Board (NGCB) monthly press release which outlines wins, fees and taxes offers an insightful look at how each of the casinos in the state compared this year to its previous years
Here are the top 5 casinos by GGR for June 2021 and their respective performances over 2020 and 2019 for reference:
✓Las Vegas Strip (Clark County)
✓Boulder Strip (Clark County)
✓Downtown (Clark County)
✓Reno (Washoe County)
✓Laughlin (Clark County)
Michael Lawton, a senior analyst with the NGCB, noted that in addition to these top five casinos the remaining casinos all outperformed their 2020 and 2019 results. The only blemish on this stellar achievement is the Las Vegas Strip which fell $6 million short of joining the club.
From the perspective of the state not only does this add considerable bragging rights but in real terms, it brought in $84.2 million in taxes. A welcome addition for any state looking to repair its infrastructure and bolster its economy.
Not Smooth Sailing, Yet
Despite record-breaking results for the quarter, the casino groups, themselves are uneasy with the recent decision to reinstate masks in the casino along with more stringent social distancing requirements.
MGM Resorts CEO Bill Hornbuckle said:
“This is another disheartening step backwards when we should be focusing on continuing our recovery. In addition to the heart-wrenching thought of more illness and death, I fear that progressively more restrictive measures, including a return to social distancing and capacity restrictions, could be around the corner if we continue on this path. This would be a significant blow to our community, industry and economy.”
He specifically pointed out the failure of the local government in keeping pace with other states in terms of vaccination rates. Stating this one failure is not only harming families but weakening businesses that rely on their ability to attract visitors to remain solvent.
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