According to the official gaming report for January by the Nevada Gaming Control Board, Nevada broke the 1 billion dollar mark for the 11th consecutive month and reported a hefty 1.1 billion dollars in gaming revenue. This historic milestone is for the month of January and specifically applies to the land-based casino operators in the West Coast state.
Moreover, one look at the numbers and it is clear that there is a whopping 40% increase in revenue when compared with the profits from January 2021. In particular, back then the state reported $762 million in gaming revenue from land-based casinos. Additionally, when we take into account the seven months of fiscal 2022 and compare them with the numbers from the same period last year, there is a whopping increase of almost 58% in gaming revenue.
Furthermore, out of the total 1.1 billion in gaming revenue from the land-based casinos in Nevada, Clark County is the biggest contributor with a big 84% of the total January revenue, or $929 million. Consequently, the Las Vegas Strip is responsible for more than half of the revenue for January, and as a result reported more than $567 million, which is a massive 76% increase when compared to January 2021.
Coming in second place is the Boulder Strip with $85 million from gambling revenue in January. And finally, third place is reserved for Downtown Las Vegas with $67.7 million, while rounding the fourth spot is Reno with a reported profit of $52.3 million in January.
Interestingly, the Nevada Gaming Control Board also reported an increase in gaming revenue for February as well. More specifically, there is a spike in the numbers by nearly 75%, when compared to February in 2021. This amounts to a whopping $81.2 million for 2022, from nearly $35 million in February of 2021.
Looking at the numbers, this is the fourth-highest revenue amount that Nevada reports in FY22, ever. The only times Nevada reported larger revenue numbers were in June, July and November. And even more impressive, this is the second-highest revenue amount since August of 2021. With this, there is around $652 million for FY22, which is a 35% increase in comparison to 2021.
All in all, many experts believe that the reason for the record revenue numbers from gambling in Nevada is a direct consequence of Governor Steve Sisolak lifting the mask mandate in the Silver State.
