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Casino revenues soar in US; $3.4 billion earning during September

Casino revenues soar in US 3.4 billion earning during September

The US casino and gambling market appears to be thriving, showing an increase of nearly three percent in year-on-year income.

 A University of Nevada Las Vegas report reveals $3.4 billion earnings of the gambling industry during September. The figures do not include tribal-run casinos, but they show gambling revenue increasing by 2.8 percent year-over-year.

 The most prominent contributor is, of course, Nevada. Referred to as the Silver State, Nevada earned $979.8 which makes up 29 percent of the national total with an increase of 3.2 percent compared to last September’s figures.

 The Nevada Gaming Control Board had earlier revealed that bets placed in the state over September are worth a staggering sum of US$558 million. The $558.2 million gambled on sports during the month gave Nevada’s figures a big boost. The bout between Canelo Alvarez and Gennady Golovkin on September 16 drew $30 million at the sportsbooks of Nevada, helping in setting the revenue records.

 Ohio earned a total of $146.3 million, registering a growth of seven percent, while the revenue of Illinois was $227.3 million. Maryland recorded revenue of $134.5 million, representing a staggering 38.5 percent increase. Pennsylvania too recorded gains with $271 million in revenue, whereas Atlantic City’s casinos recovered from a poor August to earn $235.8 million – an increase of over four percent.

 However, not every state witnessed a similar rise in revenues. West Virginia registered a drop of 4.3 percent in revenue, largely because of the neighbouring Maryland's gambling growth. Mississippi and Maine were among the other states to record decline in revenues.

 By September, the total revenue across the industry for 2017 stood at $31.5 billion, a three percent more compared to last year.

 With over 1,000 casinos, the United States has the largest number of casinos in the world. 40 states now have some form of casino gambling; with other states seek to legalize casinos