According to the latest release from the Nevada Gaming Control Board, Nevada’s nonrestricted gaming licensees reported a total “gaming win” of $991,023,123 for the month of March 2017. This amounts to a 7.45% increase compared to March 2016, when licensees reported a gaming win of $922,329,184. For the fiscal year (July 1, 2016 through March 31, 2017), gaming win has increased 3.23%. Let’s take a look at regional trends from this Gaming Control Board table:
Downtown Las Vegas continues to lead the surge in Southern Nevada, both in March and for the fiscal year to date. North Las Vegas and the Boulder strip posted the region’s only year over year declines for the region.
March was also a great month for the outlying areas of Washoe County, with Reno also doing well. South Lake Tahoe posted the only declines from last year for Northern Nevada, but it’s still a top performer for the fiscal year to date.
Courtesy of Deutsche Bank, here’s some additional Southern Nevada breakdowns:
March LV Strip Revs: +8.1% y/y
1Q17 LV Strip Revs: +5.5% y/y
March LV Locals Revs: +3.3% y/y
1Q17 LV Locals Revs: +3.6% y/y
Slot Revs +11.0%
Slot Handle +2.2%
Slot Hold +63 bps
Baccarat Revs -16.3%
Baccarat Drop -5.9%
Baccarat Hold -125 bps (10.0% versus hold of 11.3% in March, 2016 and an LTM average of ~14.5%)
Strip Non-Baccarat Tables:
Non-Baccarat Table Revs +13.0%
Non-Baccarat Table Drop -2.1%
Non-Baccarat Table Hold +195 bps
Strip Total Tables:
Total Table Revs +5.1%
Total Table Drop -3.2%
Total Table Hold +103 bps
The State collected $80,538,273 in percentage fees during the month of April 2017*, based upon the taxable revenues generated in March 2017. This represents a 10.41% (or $7,593,070) increase compared to the prior year’s April, when percentage fee collections were $72,945,203. A bit of good news in advance of the Economic Forum meeting where the state’s revenue projection for the next biennium will be set.