Nevada Casinos Win $14.8B Off Gamblers In 2022Gaming Win Reported Was An All-Time State High |
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It was another historic year for gambling in the Silver State.
Nevada’s casinos reported a total gaming win of $1,314,478,876 for the month of December 2022. The revenue was a 14.30% increase compared to December 2021, when licensees reported a gaming win of $1,149,986,166.
The performance brought the calendar year 2022 gaming win to $14,842,230,000, up 10.52% over the calendar year 2021. It was also an all-time high for the Nevada casino industry. Gaming win of $13,429,949,000 in 2021 was the previous record.
Nevada casinos won $12,849,137,000 in 2008 before the Great Recession, a figure that wasn’t beat until 2021. Gaming win plunged to $7,873,313,000 during the pandemic in 2020.
Slot machines accounted for $10,008,544,000 of the 2022 revenue, up 8.36% year-over-year. Table games, sports betting, and poker generated a combined $4,833,685,000, up 15.27% over 2021.
Poker was $219,011,000, up 16% from 2021. Sports betting win was $446,698,000, flat in a year-over-year comparison. Nevada has online poker in addition to brick-and-mortar poker rooms. The state doesn’t give a breakdown between live and online poker.
Also in January, The Nevada Gaming Control Board released its 2022 Nevada Gaming Abstract, a report of combined financial information regarding Nevada gaming licensees grossing $1 million or more in gaming revenue during the fiscal year ended June 30, 2022 (FY 2022).
During FY 2022, 296 casinos in Nevada grossed $1 million or more in gaming revenue. Together, these casinos generated a net income of $4,125,624,034 from total revenues of $26,363,588,655.
The total revenue also includes non-gaming win. Total revenue is the money spent by patrons on gaming, rooms, food, beverage, and other attractions.
These results compared favorably to FY21, when a net loss of $206,434,123 was recorded on total revenues of $16,122,303,401.
Net income/loss is the money retained by casinos after expenses have been paid but before deducting federal income taxes and accounting for extraordinary expenses.
Gaming revenue accounted for $10,664,635,535 or 40.5% of total revenue during the fiscal year. The 296 casinos paid $1,048,450,027 in gaming taxes and fees, equating to 9.8% of their gaming revenue.
On a county-by-county basis, Clark County, home to Las Vegas, had 170 casinos grossing $1 million or more in gaming revenue during FY 2022, which generated a combined net income of $3,566,412,543 from total revenues of $23,454,615,615.
Washoe County had 31 casinos which reported a combined net income of $372,755,961 from total revenues of $1,632,283,086. Elko County had 21 casinos with $144,872,637 in combined net income. South Shore Lake Tahoe in Douglas County, with six licensees, reported a net loss of $78,152,640. Carson Valley Area, with 15 casinos, generated a net income of $48,621,403. The balance of the state had 53 casinos earning $71,114,130 in combined net income.
In FY 2022, 56 casinos owned by public companies accounted for 67.8% of the total gaming revenue generated statewide during the fiscal year.
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