Nevada’s biggest casinos netted over $2 billion in FY2019
CARSON CITY, Nev. — The 290 Nevada casinos with more than $1 million in gross gaming revenue generated just over $2 billion in net income during fiscal 2019.
According to the 2019 Nevada Gaming Abstract released Feb. 7, those casinos brought in total revenues of $24.55 billion.
That represents the money patrons spent on gaming, rooms, food, beverages and other attractions. Net income is the money the casinos had left after paying expenses but before federal income taxes and extraordinary expenses.
Those casinos paid $892.3 million in gaming taxes and fees — a rate of 10.2 percent of gaming revenue. Of those casinos, 169 are in Clark County. They brought in $1.88 billion.
Washoe County is home to 34 of those casinos, generating $128.3 million, and Carson City with 15 casinos generated net income of $13.2 million.
Elko County has 19 casinos generating a net of $58.4 million. South Shore at Lake Tahoe’s seven casinos, however, suffered a net loss of $55.6 million.
Months into the pandemic, many states and regions are in stages of recovery, some slower than others — and Reno-Sparks is in a much better position than most, says Sacramento financial analyst Sanjay Varshney.