Coronavirus comedown for Nevada casinos

The 442 commercial casinos in Nevada reportedly saw their aggregate win for April decline by 99.6% year-on-year to just $3.6 million as a direct result of being shuttered in order to help counter the coronavirus pandemic.

According to a Friday report from the Las Vegas Review-Journal newspaper citing official information from the Nevada Gaming Control Board, casinos in ‘The Silver State’ were closed via an order from Governor Steve Sisolak from March 18 with this mandatory shutdown subsequently leading them to chalk up their lowest combined monthly win total since records began some 37 years ago.

Disappointing descent:

The Las Vegas Review-Journal reported that casinos in Clark County alone saw their aggregate win for April plummet by 99.5% year-on-year to slightly over $3.7 million while those on the constituent Las Vegas Strip experienced a 99.3% diminution to a mere $3.4 million. There was purportedly also a 99.3% combined drop for venues in downtown Las Vegas to $436,207 with properties in the North Las Vegas region recording a near 99.9% wipeout to just $2,617.

Innovative inspiration:

The newspaper reported that some Nevada casinos have been attempting bring in revenues during the coronavirus-initiated lockdown through the provision of online poker and mobile sportsbetting although many were forced to pay out more than they took in courtesy of gambles that had already been decided or refunded wagers such as those involving the now-cancelled NCAA Division I Men’s Basketball Tournament. As such, venues on the state’s Boulder Strip purportedly saw their aggregate April win decrease by 100.07% year-on-year to a deficit of $51,314 while properties in the small city of Mesquite experienced a 100.04% shrinkage to minus $5,277.

The Las Vegas Review-Journal reported that casinos in the community of Laughlin similarly saw their April win nose dive by 100.03% year-on-year to a shortfall of $14,243 while North Lake Tahoe venues topped this unwanted league table with a 100.28% crash for a combined loss of $3,681.

Long-term lag:

All of this reportedly means that Nevada has now experienced an 11.4% deterioration in aggregated gaming win for the ten months from the beginning of July to $8.755 billion with the state having so far collected 7.85% less gaming tax at just $598.2 million.