Nevada Gaming Extract 2020 Reports Gaming Licensees Success

Through its 179-page ‘Nevada Gaming Abstract-2020’ report, the Nevada Gaming Control Board has reported the success of its gaming licensees across the country, with the difficulties of the year exacerbated by a 78-day shutdown from mid-March to the early stages of June.

The statistical abstract is a consolidated financial report on gaming licensees in the region that grossed $1 million or more in gaming revenue during the fiscal year ended 30 June 2020.

There were 267 casinos in Nevada during the reporting period that grossed $1 million or more in gambling revenue, producing net profits of $2.89 billion out of a total income of $18.34 billion.

This is in comparison to $24.54bn in sales in 2019, the money spent by patrons on gambling, rooms, food, drink, and other attractions, and $2.05bn in net profits, which is held by casinos after costs have been charged but before federal income taxes are excluded and exceptional expenses are accounted for.

Gaming income accounted for $6.7 billion, or 36.8 percent of overall revenue, with $693.99 million in gaming taxes and fees contributed by the 267 facilities, equaling 10.3 percent of their gaming revenue. In FY 2020, during the fiscal year, 61 casinos operated by public corporations accounted for 71 per cent of the total gaming revenue generated statewide.

On a county-by-county basis, during FY 2020, Clark County had 157 casinos grossing $1 million or more in gaming revenue, which in turn generated $2.91 billion in combined net income from a total revenue of $16.29 billion.

Elsewhere, Washoe County had 33 casinos that reported $21.29 million in gross sales of $1.16 billion in combined net income, while Elko County had 17 casinos with $11.93 million in combined net income.

With six licensees reporting a net loss of $65.86m, South Shore Lake Tahoe in Douglas County, and 15 casinos generating net income of $3.75m in the Carson Valley Region.

The Gaming Abstract also provides statistics on the total number of workers, room occupancy rate, income earned per room per day, gaming income earned per square foot of gaming floor space, and other ratios, in addition to presenting consolidated balance sheets and income statements.