Largest Nevada casinos bounce back in fiscal 2019 with $2 billion gain

Nevada’s largest casinos reaped more than $2 billion from gambling, food and beverage sales, room rentals and other factors during the 2019 fiscal year, state regulators reported Friday.

The Nevada Gaming Control Board annual “gaming abstract” looked at financial information from 290 casinos grossing at least $1 million from gambling during the 12 months ending last June 30. Those properties reported total revenues of $24.5 billion and paid $892.3 million in gambling taxes and fees, or 10.2% of their gambling revenue, according to the report.

The results compared with a net loss of $1.17 billion in fiscal 2018 on total revenues of $27.1 billion at 289 casinos. Those figures were attributed to expenses from Caesars Entertainment’s reorganization after it emerged from bankruptcy in late 2017.

The 179-page document, reported by the Associated Press, also charted employee numbers, room occupancy rates, revenue earned per room per day and gambling revenue earned per-square-foot of casino floor space, among other measurements.

The 169 large casinos in Las Vegas and Clark County reported net income of $1.9 billion from revenues of nearly $22 billion. Thirty-four casinos in Washoe County, including Reno, reported $128.3 million in income from revenues of $1.45 billion. Elko County’s 19 large casinos reported $58.4 million in net income.