Nevada Gaming Operations Rebound With 72.66% YoY Rise

According to figures released this week by the state’s Gaming Control Board, Nevada’s gaming operations rebounded with a 72.66 percent year-over-year rise in revenue in March, resulting in a total gaming win of $1,066,979,987.

One year after the statewide shutdown placed to combat the ravages of the COVID-19 pandemic, the news would provide a welcome boost to the industry. The gaming win, which is approaching $1 billion, is a major increase over February’s $772 million estimate.

Casinos in Carson City, Minden, Gardnerville, and other areas of Douglas County, except south shore Lake Tahoe, created a year-over-year increase of 130.31 percent in March, with gaming winnings of $11,977,460 compared to $5,200,659 in March 2020.

Washoe County casinos saw a 152.55 percent increase in revenue, with Reno up 163.72 percent and Sparks up 137.29 percent.

The South Shore Lake Tahoe venues saw a 166 percent spike in action year over year, with a $24,087,861 gaming win compared to $9,053,459 in March 2020.

North shore casinos, on the other hand, saw the most rise, with a year-over-year increase of 176.18 percent. In March 2020, the gaming win was $2,032,210, compared to $735,827 in March 2020.

Recovery likely to continue

According to Elaine Emerson of KVVU-TV, the recovery is likely to continue.  “Gaming win could see another big increase in the summer after the Nevada Gaming Control Board announced casinos will be allowed to open based on capacity limits set by counties on May 1,” she said, as quoted by analysts Seeking Alpha.

“For more rural counties, that would allow casinos to reopen at 100% capacity. In Clark County, casinos would be allowed to operate at 80 percent capacity starting May 1, and would be allowed to reopen fully once the county hits a 60% vaccination rate,” she added.