Nevada’s $1 Billion Gaming Revenue Streak Reaches 18 Months by WillYakowicz
As the economy heads towards a recession, Lawton says Nevada has a nice buffer thanks to all the growth it has experienced during the rebound. If gambling revenue drops 10%, Nevada will still be above pre-pandemic levels. “We would have to fall off a significant cliff to be lower than 2019 levels,” says Lawton. “We’re hoping if there is a downturn, it’s not dramatic. If we see a 10% drop-off, we would still have extremely good numbers.
While domestic leisure travelers have helped Nevada surpass pre-pandemic levels, international and business travel are both still down compared to 2019. This means that there is room to grow.in annual gambling revenue it collected in 2021. Through August, Nevada collected $9.8 billion, a 14% increase compared to the same time last year. “We have four more months, and we’re 14% above an all-time record,” says Lawton.
Nevada’s streak will come to an end, of course, but the question is when. With football season here, the NBA starting in a few weeks and the college bowl season in December, hitting $1 billion in gambling revenue each month through the rest of the year is likely. “That’s the million-dollar question,” says Lawton. “But when I look out there, I like what I see. I don’t see an imminent drop-off. There’s no softness on the horizon.