The Nevada Gaming Control Board has released its Nevada Gaming Abstract for 2016. The report of combines financial information regarding Nevada gaming licensees grossing $1 million or more in gaming revenue during the fiscal year ended June 30, 2016.
During FY 2016, there were 273 casinos in Nevada grossing $1 million or more in gaming revenue. Together, these casinos generated net income of $978,956,175 from total revenues of $25,234,883,987. These results are improved compared to FY15 when a net loss of $661,779,138 was
recorded on total revenues of $24,591,388,351. “Total revenue” is the money spent by patrons on gaming, rooms, food, beverage, and other attractions.
Gaming revenue accounted for $10,760,756,016, or 42.6% of total revenue. These 273 casinos paid $821,711,400 in gaming taxes and fees, equating to 7.6% of their gaming revenue. Regional breakdowns and comparisons to FY 2015 can be seen in this chart from the Gaming Control Board:
On a county-by-county basis, Clark County had 159 casinos grossing $1 million or more in gaming revenue during FY 2016, which generated combined net income of $748,230,396 from total revenues of $22,589,177,912. Washoe County had 33 casinos, which reported combined net income of $143,714,320 from total revenues of $1,525,703,734.
One contributing factor to net income gains may be a decline in average employees for the year compared to FY 2015. About 4,000 fewer average employees were reported in FY 2016, and the casino department shed the most jobs of any department at 1,500.
Room occupancy rates rose by over a point to 84.78% as available rooms declined and room stays increased over 2015.