Nevada Casinos See Record-Breaking Wins in January 2025

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Nevada casinos had their second-best win performance in history in January, the Nevada Gaming Control Board reported. The state's casinos won $1.43 billion from players in January, a 12.5% increase from the same month last year. The Las Vegas Strip saw a significant increase in wins, with a 22.5% rise to $840.1 million. This boost was largely driven by the game of baccarat, which saw a 121% increase in wins to $214.3 million. The volume of baccarat play was also up 35.8% to $801.3 million, with the casino hold increasing to 26.74% compared to 16.43% in the previous year.

The increase in wins was not limited to the Las Vegas Strip, as Clark County saw a 13.3% increase in wins to $1.26 billion. However, downtown Las Vegas saw a 2.3% decrease in wins to $83.7 million. The results were driven by a number of factors, including the timing of the New Year's holiday and the presence of several special events in Las Vegas, including performances by Janet Jackson and The Killers. The gaming industry as a whole saw an increase in wins, with 17 of the 20 statewide markets monitored by the Control Board seeing an increase in wins.

The increase in wins has had a positive impact on the state's finances, with the state collecting $108.7 million in percentage fees based on taxable revenue generated in January. This represents a 0.58% increase from the previous year. The results have also boosted Nevada's 2024-25 fiscal year total into positive territory, with the state's gaming win now up 0.03% to $9.28 billion for the seven months since July 1. The casinos have generated $688.6 million in percentage-based gaming fees for the general fund, which is a significant contribution to the state's revenue.

According to Michael Lawton, the Control Board's senior economic analyst, the January 2024 gaming numbers may have been softer than normal due to the timing of the Super Bowl and the presence of several special events in Las Vegas. Lawton also noted that the state has a 6.75% tax on casinos' gross gaming revenue, which provides a significant source of revenue for the state. The state's gaming industry is expected to continue to perform well, driven by the popularity of games such as baccarat and the presence of several special events in Las Vegas.

The Nevada Gaming Control Board's report provides a detailed breakdown of the state's gaming industry, including the performance of different markets and the impact of various factors on the industry. The report highlights the importance of the gaming industry to the state's economy and the need for continued monitoring and regulation to ensure the industry's continued success. Some of the key statistics from the report include: * List of statewide markets with double-digit percentage increases: * South Lake Tahoe: 22.4% increase to $22.3 million * Elko County: 13% increase to $32.7 million * Wendover: 14.3% increase to $22.4 million * List of policy points: * The state has a 6.75% tax on casinos' gross gaming revenue * The gaming industry is a significant contributor to the state's revenue * The state's gaming win is now up 0.03% to $9.28 billion for the seven months since July 1 * Statistical data: * $1.43 billion: total wins for the state's casinos in January * $840.1 million: total wins for the Las Vegas Strip in January * $214.3 million: total wins from baccarat in January * $801.3 million: total volume of baccarat play in January