Nevada Gaming Revenue Sees Strong January Growth

Nevada’s nonrestricted gaming licensees reported a total “gaming win” of $1,038,196,869 for the month of January 2020 according to the state's Gaming Control Board. This amounts to a 5.48% increase compared to January 2019, when licensees reported a gaming win of $984,227,816. For the fiscal year (July 1, 2019 through January 31, 2020), gaming win has increased 2.57%. In Southern Nevada, Downtown led the way with a 13.47% increase in gaming win, with the Strip also posting strong 7.49% gains. North Las Vegas and the Boulder Strip, meanwhile, posted moderate contractions. For the fiscal year to date, all areas except North Las Vegas have seen growth, with Downtown again at the head of the pack. Up North, South Lake Tahoe posted the strongest increase at 17.93% with solid gains across the region. The only exception is North Lake Tahoe, which has losses of more than 6% for January and the fiscal year to date. The State collected $73,049,145 in percentage fees during the month of February 2020, based upon the taxable revenues generated in January 2020. This represents an 18.31% (or $16,378,484) decrease compared to the prior year’s February, when [...]

By |2022-03-07T16:14:27-08:00February 28, 2020|Nevada by the Numbers Blog|Comments Off on Nevada Gaming Revenue Sees Strong January Growth

Las Vegas Home Prices Ease Slightly in January

A report by the Greater Las Vegas Association of REALTORS® (GLVAR) shows that the median price of existing single-family homes sold in Southern Nevada through its Multiple Listing Service (MLS) during January 2020 was $305,000. That was down 2.6% from December, but up 1.7% from January of 2019. Meanwhile, the median price of local condos and townhomes sold in January was $175,000. That was down 1.7% from December, but up 2.9% from January of 2019. Before slowing down in the last year or so, local home prices had been soaring since early 2012, posting double-digit gains from year to year while climbing back from their post-recession low point. According to GLVAR, the median price of existing single-family homes sold in Southern Nevada peaked at $315,000 in June of 2006 before falling during the recession. Local home prices hit a post-recession bottom of $118,000 in January of 2012. GLVAR expects a new record will be set this year. The total number of existing local homes, condos and townhomes sold during January was 2,875. Sales were down from December. But compared to the same time last year, January sales were up 25.2% for [...]

By |2022-03-07T16:14:28-08:00February 9, 2020|Nevada by the Numbers Blog|Comments Off on Las Vegas Home Prices Ease Slightly in January

Nevada Gaming Posts Strong December Gains

According the state's Gaming control Board, Nevada’s nonrestricted gaming licensees reported a total “gaming win” of $1,057,602,710 for the month of December 2019. This amounts to a 5.79% increase compared to December 2018, when licensees reported a gaming win of $999,678,537. For the fiscal year (July 1, 2019 through December 31, 2019), gaming win has increased 2.09%. In Southern Nevada, the Strip posted a healthy 4.53% gain, driven by strong slot and table returns. Baccarat was down significantly; while trade tensions have eased we should see what impact the coronavirus outbreak may have on this game in the months to come. All of Clark County saw growth, with North Las Vegas and the Boulder Strip posting gains over 20 percent. Downtown continues to lead for the fiscal year to date. In Northern Nevada, the story was different. Most areas took a loss, with the exception of Sparks and South Lake Tahoe which saw  8.1% growth in gaming win. North Lake Tahoe was the loss leader with a 7.17% decline. The State collected $50,439,646 in percentage fees during the month of January 2020, based upon the taxable revenues generated in December [...]

By |2022-03-07T16:14:28-08:00February 9, 2020|Nevada by the Numbers Blog|Comments Off on Nevada Gaming Posts Strong December Gains
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