STATELINE, Nev. – Nevada’s non-restricted gaming licensees reported a total “gaming win” of $683,733,423 for the month of December 2020. This amounts to a 35.35 percent decrease compared to December 2019, when licensees reported a gaming win of $1,057,539,090, according to the monthly report released by the Nevada Gaming Control Board.
Casinos on the South Shore of Lake Tahoe had a “win” of $15,611,574, down 14.08 percent from December 2019. Most areas in the state saw double-digit losses.
The “gaming win” represents the computed income of casinos before business expenses and taxes.
The State has collected $435,258,590 in percentage fees to date for the fiscal year which began July 1.
Washoe County posted a loss of 11.81 percent as a whole with North Lake Tahoe casinos’ “win: of $1,449,564 down 32.58 percent.
The Carson Valley casinos had a “win” of $9,222,068, down 1.04 percent from the same month in 2019.
Last week, the Commission releases its annual Abstract, a report of combined financial information regarding Nevada gaming licensees grossing one million dollars or more in gaming revenue during the fiscal year ended June 30, 2020 (FY 2020).
During FY 2020, there were 267 casinos in Nevada which fit that category. Together, these casinos generated net income of $2,893,142,737 from total revenues of
$18,348,234,892.
These results are improved compared to FY19 when net income of $2,055,525,922
was recorded on total revenues of $24,546,009,009.
“Total revenue” is the money spent by patrons on gaming, rooms, food, beverage, and other attractions. “Net income/loss” is the money retained by casinos after expenses have been paid but prior to deducting federal income taxes and prior to
accounting for extraordinary expenses. Gaming revenue accounted for $6,746,883,467 or 36.8 percent of total revenue. These 267 casinos paid $693,999,763 in gaming taxes and fees, equating to 10.3 percent of their gaming revenue.
South Shore Lake Tahoe in Douglas County with six licensees reported a net loss
of $65,861,830. Carson Valley Area with 15 casinos generated net income of $3,758,939.
In comparison, Clark County had 157 casinos grossing $1 million or more in gaming
revenue during FY 2020, which generated combined net income of $2,912,541,80c 001e from total revenues of $16,298,422,043. Washoe County had 33 casinos which reported combined net income of $21,290,888 from total revenues of $1,166,315,584.
Last month’s report: http://southtahoenow.com/story/12/29/2020/south-shore-casinos-again-perform-better-most-nevada