Nevada casinos post positive gains for fifth consecutive month

Nevada casinos are on a winning streak. For the fifth consecutive month, gambling houses in the state have reported gross gaming revenue (GGR) increases, the latest being a 4.2% increase for June. In the monthly report by the Nevada Gaming Control Board (NGCB), the board indicated that casinos took in $933 million last month.

Reno, Nevada, known as “The Biggest Little City in the World,” played a significant part in increasing July’s GGR. Reno-area casinos took in $59.4 million for an increase of 20%. Casinos along the Las Vegas Strip, always a favorite location for gamblers, reported an increase of 5% over June 2017, taking in $524 million. The one area that took a hit was Downtown Las Vegas, which raked in $44 million – a decrease of 4.4% over June of last year.

With the end of the month comes the end of the fiscal year. GGR for the year increased 3.2% to reach $11.8 billion, of which $6.6 billion was collected by casinos on the Strip. This was 2% higher than what the same casinos reported for the previous fiscal year.

Slot machine revenue declined by 3.3% in June, taking in just $472.5 million. Most terminals, including megabucks machines and $5, $25 and $100 terminals, all reported losses. Penny slots lost 1% while quarter slot revenue dropped by 3%. Oddly enough, nickel slots saw an increase, jumping 13% to bring in $39 million.