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Nevada Casinos Go Record 9 Months with $1B in House Winnings

Submitted by jhartgen@abi.org on

Nevada casinos set a record in November, reporting a ninth straight month of $1 billion or more in house winnings, gambling regulators said, providing another sign that business in the nation’s tourist-dependent gambling mecca has returned to pre-pandemic levels, the Associated Press reported. The $1.32 billion in casino winnings reported statewide last month was up from $1.22 billion in October, and almost reached the record $1.36 billion figure set last July, the Nevada Gaming Control Board reported. The streak beat the previous record of eight consecutive months set before the Great Recession, from October 2006 to May 2007. Nevada sports betting also set records — reaping a record $72 million in November on sports wagers totaling $1.1 billion. The previous record was $61.8 million in sports bets won by casinos in November 2020, and sports books took in more than $1 billion in wagers in consecutive months for the first time. Most sports wagers were made with mobile betting apps. Business generally has been buoyed by visitors with money to spend, Lawton said, and a sustained rebound of leisure travel and the return in early November of airline flights from international places other than Canada and Mexico. Special events and entertainment also helped push casino winnings for the year-to-date to almost 12% past 2019 levels. The Las Vegas Convention and Visitors Authority reported 3.1 million visitors during the month, down 8% from 3.4 million in October. The regional tourism agency reported an average daily room rate of almost $156, up more than 15% from a year ago.