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Daily Casino Gambling News - November 26, 2019

Written by:
C Costigan
Published on:
Nov/26/2019

Gambling911.com has all your latest casino news, both online and brick and mortar, as it happens for Sunday November 26 2019.


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Nevada Casinos top $1B in Monthly Winnings; 6th Time in 2019

(AP) - Nevada casinos reaped more than $1 billion in winnings in October, marking the sixth time this year the state has topped the mark in a key index of fiscal health, regulators said Tuesday.

Despite the strong monthly showing in the Nevada Gaming Control Board's report, house winnings were still below a year ago because October 2018 was an exceptionally good month, topping $1.06 billion, board senior research analyst Michael Lawton said.

That means the $1.02 billion reported last month was down 3.8% compared with the same month a year ago.

Nevada casinos also took in nearly $1.06 billion in winnings in September — a record for any September and a high-water mark for 2019.

"In the overall picture, six times this year is great," Lawton said of exceeding the $1 billion mark.

Casino winnings for the first four months of the fiscal year were up nearly 2.5%.

Lawton noted that October 2018 had the highest casino winnings since October 2007, which was the best-ever for that month, at $1.17 billion.

The state collected $62.3 million in taxes based on the October 2019 revenue, up 9.4% from a year ago, according to the report.

Lawton attributed the results to weather, the number of events in Las Vegas and a surge in football sportsbook betting.

Nevada sportsbooks won $49.7 million last month, up 61.7% from last year, he said.

House winnings decreased last month on games including baccarat, blackjack and roulette. Slot machine figures were almost flat, with casinos reporting winnings of $699 million, up less than 1 percent.

Gambling tax revenue is second only to sales taxes as a percentage of the state's annual budget. Nevada has no state income tax.

- Gilbert Horowitz, Gambling911.com

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