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Nevada Casinos End Fiscal Year With $1 Billion In June Revenue

Monthly Sports Betting Handle Regained Top Spot In The Nation From New Jersey, Accepts $322.4 Million In Sports Bets

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Nevada casinos ended their fiscal year by winning $1.04 billion from gamblers in June, according to numbers released from the Nevada Gaming Control Board.

The 10-figure victory represented an 11.57 percent increase in revenue year-over-year and ended the fiscal year, which ran from the start of July 2018 through the end of June 2019, with $11.9 billion in revenue. It is up 0.8 percent from last fiscal year.

Nevada casino growth leveled off this fiscal year with less than one percent growth compared to the 3.2 percent jump in revenue last fiscal year.

Throughout June, it was Las Vegas that saw the biggest year-over-year increases in revenue. The Las Vegas Strip area made up the majority of the revenue with $616.6 million in winnings, while the Downtown casinos generated $52.177 million.

The Strip revenue was a 17.69 percent increase from June 2018 and downtown casinos showed a whopping 18.55 percent increase.

Parts of Northern Nevada, however, saw a turn in the other direction. Reno casinos were down 14.05 percent with $50.97 million in revenue and South Lake Tahoe casinos were down 12.05 percent with $16.5 million won from gamblers.

Sports betting remained healthy in the Silver State as they reclaimed the top spot in the nation’s total handle in June. Silver State sportsbooks accepted $322.4 million in wagers. New Jersey, who took the top spot away from Nevada for the first time in history in May, was second on the list with $273.2 million.

The state government collected $55 million in taxes from the month’s total revenue. According to an AP report, gambling taxes are second to sales tax as a percentage of the state’s $14 billion annual budget.