Nevada: 296 casinos generated total revenues of $26B in FY 2022, NCGB says

Nevada: 296 casinos generated total revenues of $26B in FY 2022, NCGB says. (Las Vegas).- The Nevada Gaming Control Board has released its “Nevada Gaming Abstract – 2022.” The ABSTRACT is a report of combined financial information regarding Nevada gaming licensees grossing $1 million or more in gaming revenue during the fiscal year ended June 30, 2022 (FY 2022).. During FY 2022, there were 296 casinos in Nevada which grossed $1 million or more in gaming revenue. Together, these casinos generated net income of $4,125,624,034 from total revenues of $26,363,588,655. These results compare favorably to FY21 when a net loss of -$206,434,123 was recorded on total revenues of $16,122,303,401. “Total revenue” is the money spent by patrons on gaming, rooms, food, beverage, and other attractions. “Net income/loss” is the money retained by casinos after expenses have been paid but prior to deducting federal income taxes and prior to accounting for extraordinary expenses. Gaming revenue accounted for $10,664,635,535 or 40.5% of total revenue. These 296 casinos paid $1,048,450,027 in gaming taxes and fees, equating to 9.8% of their gaming revenue. On a county-by-county basis, Clark County had 170 casinos grossing $1 million or more in gaming revenue during FY 2022, which generated combined net income of $3,566,412,543 from total revenues of $23,454,615,615. Washoe County had 31 casinos which reported combined net income of $372,755,961 from total revenues of $1,632,283,086. Elko County had 21 casinos with $144,872,637 in combined net income. South Shore Lake Tahoe in Douglas County with 6 licensees reported a net loss of -$78,152,640. Carson Valley Area with 15 casinos generated net income of $48,621,403. The balance of the state had 53 casinos earning $71,114,130 in combined net income.