Nevada Casinos Experience Gain In Revenue Through October

December 10th, 2010 – by Glen Farmer

On Thursday, gambling regulators in the state of Nevada released a report regarding revenue in the state’s casinos. The report has shown positive figures for the month of October.

In October, Nevada casinos won $888.6 million dollars from gamblers. This represents an 11 percent increase over October of 2009. Some analysts are predicting that Nevada is finally back on track toward economic recovery, despite the sordid state of affairs, economically speaking.

The Nevada Gaming Control Board has issued reports showing that the state has collected over $60 million dollars in tax revenue based on casino gambling revenues, which is a 22 percent increase. over October of last year.

In Nevada, tax generation from casinos comprises nearly one third of the state’s general fund.

The Las Vegas Strip generated nearly half of the state’s gambling revenue. Casino winnings rose 16 percent on the strip alone, with resorts on the Strip claiming to have won $494.8 million dollars in revenue in October. A year earlier, only $426.3 million had been generated.

Broken down, the gambling revenue shows $2.4 billion wagered on table games, while slots took in $9.28 billion. Revenue rose 1.3 percent and .3 percent respectively on table games and slots.

The state is expecting continued gains going into the new year.

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