Casinos in Nevada Hit $1b Revenue Mark Nine Months Running
Casinos in Nevada are on a role, earning over $1 billion for the ninth consecutive month this year.
It appears as though Nevada casinos can’t be stopped when it comes to revenue earnings. For the ninth month in a row, the industry has earned over $1 billion from gamblers. The unbelievable hot streak comes as Las Vegas and Reno try to recover after the onset of the COVID-19 pandemic. November revenues show that the billion dollar mark was reached once again and this is the longest streak for the state to hit that mark month after month. With $1.32 billion generated, it marks a more than 70% increase from November 2020 earnings.
Breakdown of the Earnings
For the November earnings, the majority came from Clark County. The region was able to bring in over $1.16 billion. Casinos on the Strip brought in over $750 million of that number. Now that November hit the billion-dollar mark, it signals the state’s best consecutive run, going back to late 2006 to 2007.
For sportsbooks, the month was a good one, as revenues reached over $70 million. Slots helped to contribute to the earnings totals for casinos, generating over $850 million. Blackjack brought in over $124 million, and baccarat was high as well, coming in at over $94 million.
It seems travelers have been heading to back to Las Vegas and visitor numbers are certainly helping win totals for casinos. Gamblers along with leisure travelers are out and about once again with visitor volume increasing more than 60% when compared to last year through October. The airport saw a 75% increase in travelers when compared to November 2020.
Over the past few months, travelers have headed to Sin City as well as Reno to enjoy casino gaming, hotel stays, dining, drinks, and additional entertainment. The recovery process has been ongoing, but so far, Nevada is benefiting.
Will It Last?
Now we have to ask the question, will it last? Will Nevada continue to see record revenues, or will COVID-19 rear its ugly head once again? Right now, we are starting to see the omicron variant spread like wildfire through the United States. This variant has less severe symptoms in those who are fully vaccinated but still poses a risk, especially to those who have yet to take the vaccination.
Omicron is highly contagious and could become an issue in Las Vegas due to the high traffic areas like casinos. New cases have already increased considerably in Clark County this week. If cases continue to increase, we could see restrictions back in place limiting casino hours or the number of visitors per venue.
On a side note, the United States Centers for Disease Control and Prevention stated this week that the isolation period for someone who is infected is now five days instead of 10. This is due to the fact that omicron has milder symptoms.
Already, Las Vegas has been affected by Omicron via conference scheduling. The Consumer Electronic Show was supposed to take place in early January and would bring big business to the city. The show is still going to take place but major companies like Facebook, Amazon, Twitter, and Google are no longer involved.
We shall see in the coming weeks if omicron is going to become hard to deal with in the US and if it causes restrictions like other variants of the virus in the past. For now, Las Vegas casinos will continue to bring in the revenues as long as players are willing to travel and enjoy the entertainment options on offer.