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Stimulus Check Update: See This Picture? Billions in Stimulus Went Here


Stimulus Check Update: See This Picture? Billions in Stimulus Went Here
According to Forbes, casinos in the state of Nevada raked in $1 billion in the month of March, its biggest month in eight years.
Ever since Americans began receiving their stimulus checks from the American Rescue Plan, they’ve spent a lot of that money- enough to cause retail sales to surge in March, and the gross national product to rise significantly in the first quarter.
Surveys have shown that more Americans are spending their stimulus money on household bills than anything else, but there are indications that the money is also being spent on home improvements, as well as the sorts of things people weren’t able to do during the long pandemic. ....

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Nevada casinos generate $2.89 billion during fiscal 2020


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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. ....

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South Tahoe casinos have strong November


 
While major markets continue to struggle, particularly in the south, Carson City casinos reported their fourth consecutive monthly increase in gaming win in November.
The Carson Valley Area, which includes valley portions of Douglas County, won $8.94 million, a 1.8%, a $161,000 increase over November of last year. The story was almost completely sports betting. The sports pools that won just $4,000 a year ago raked in $274,000 this November, a 7,345% increase. The driver was the percentage of bets casinos held 22.7% this year compared to 2% a year ago.
Statewide win totaled $771.2 million. That is 17.75% less than the $937.5 million Nevada casinos won a year ago and according to Gaming Control Board Analyst Mike Lawton, 87% of the decrease is from the Las Vegas Strip. ....

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