Nevada casinos set 9-month record with $ 1 billion in house winnings

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LAS VEGAS (AP) – Nevada casinos set a record in November, posting a ninth straight month of internal earnings of at least $ 1 billion, gambling regulators said on Wednesday, providing another sign that the Business in the country’s tourist-dependent gambling mecca has returned to pre-pandemic levels.

The $ 1.32 billion reported statewide casino winnings last month were up from $ 1.22 billion in October and nearly hit the record high of $ 1.36 billion set in last July, the Nevada Gaming Control Board reported.

The streak broke the previous record of eight consecutive months set before the Great Recession, from October 2006 to May 2007, said Michael Lawton, senior analyst on the board.

Nevada sports betting also set records – collecting a record $ 72 million in November from sports betting totaling $ 1.1 billion.

Lawton said the previous record was $ 61.8 million in sports bets won by casinos in November 2020, and he noted that sports books first received more than $ 1 billion in bets. in consecutive months. Most sports betting has been done with mobile betting apps.

“The continued acceptance of mobile sports betting by customers is behind these results,” said Lawton. “This month was the highest monthly total in mobile (betting) since the board started tracking these bets in January 2020.”

Business was generally boosted by visitors with money to spend, Lawton said, along with a sustained rebound in leisure travel and the return in early November of air flights from international locations other than Canada. and Mexico.

Special events and entertainment have also helped push casino earnings for the year to date to nearly 12% from 2019 levels. Only North Las Vegas and Laughlin are still below US levels. calendar year 2019, Lawton said.

Most economic and income comparisons do not use 2020, when many businesses were closed due to the COVID-19 pandemic.

Nevada raised nearly $ 93.6 million in tax revenue based on November figures, according to the report.

Lawton noted that a full month of events in November included the return to Las Vegas of the Specialty Equipment Market Association’s major auto-focused trade show; the start of artist Sting’s residency at the Colosseum at Caesars Palace; a Rolling Stones concert at Allegiant Stadium; boxing at the MGM Grand Arena and the Mandalay Bay Events Center; and two home games for the Las Vegas Raiders.

The report came with the newly renamed Harry Reid International Airport, signaling that passenger traffic has almost reached levels seen two years ago.

The former McCarran International Airport said on Tuesday it handled around 4 million arriving and departing passengers in November, down just 4.4% from the same month in 2019.

The Las Vegas Convention and Visitors Authority recorded 3.1 million visitors in the month, down 8% from 3.4 million in October. The regional tourism agency announced an average daily rate of nearly $ 156, up more than 15% from November 2019.

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This story corrects the comparison of room rates in the last paragraph with November 2019, not a year ago.

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