Nevada casinos generate $2.89 billion during fiscal 2020
Nevada gaming licensees grossing more than $1 million a year generated $2.89 billion in net income during fiscal 2020.
That is significantly more than their $2 billion net in fiscal 2019 despite the fact they generated $6.2 billion less in total revenues because of the shutdown ordered during the pandemic in 2020.
Total revenue is the money spent by patrons on gaming, rooms, food, beverages and other attractions. Net income is the money resorts kept after expenses.
The 267 casinos earning more than $1 million in gaming revenue during the year ended June 30 raked in total revenues of $18.3 billion in fiscal 2020. In fiscal 2019, the total was $24.5 billion.
Gaming revenue accounted for 36.8% of total revenues, $6.75 billion.
The 15 million-plus casinos in the Carson Valley Area generated net income of $3.76 million during the year.
The Carson Valley Area includes valley portions of Douglas County as well as the capital.
South Shore’s six casinos at Stateline reported a net loss of $65.8 million for the fiscal year.
Washoe County had 33 casinos making more than $1 million in gaming revenue and reported $21.29 million in net income from $1.17 billion in total revenue.
Clark County’s 157 million-plus casinos generated the majority of the revenue — $2.9 billion in net income from $16.29 billion in total revenue.
Finally, Elko County’s 17 casinos grossing over $1 million in gaming revenue reported $11.9 million net income.
The balance of the state had 39 casinos that earned more than $1 million in gross gaming revenue, generating $9.48 million in combined net income.
In fiscal 2020, the 71 casinos owned by public companies accounted for 71% of total gaming revenues.
The data, all contained in the annual Gaming Abstract, says the total average number of employees in the resort industry during the year was 135,926.
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