The winnings of casinos in Nevada have surged by 11.9 percent for the month of June. The figures released by the Nevada Gaming Control Board on Tuesday reveals that the jump in June’s winnings at Nevada casinos has allowed grossing $11.9 billion in statewide revenue from casinos in the current fiscal.
The total gaming win of casinos was slightly above $1 billion and 11.6 percent more when compared with the casino winnings for the same period the previous year.
“June 2019, represented the best month of June ever,” said Michael Lawton, chief analyst for the Nevada Gaming Control Board.
“Gaming win has now increased in four consecutive fiscal years and eight of the last nine,” he added.
According to Lawton the jump in June’s revenue was due to baccarat where casino winnings of nearly $158 million were up $84 million, or more than 114%, from June 2018. The increase in winnings at Baccarat also represent the highest hold percentages in state history.
In Nevada gambling is the major contributor to the state coffers – second only to sales tax. For June 2019, Nevada grossed 455 million in revenue from gambling representing a 15.9 percent year-on-year increase.
Prior to June, in May this year, casino winnings in Nevada fell by 6 percent year-on-year to $982 million. Also, the tax collected in May was down 9.8 percent when compared with the tax collected for the same period, the previous year.