2019 seems to be the turning point for the casino industry, at least for the state of Nevada, since the report published by the state regulator, the Gaming Control Board, shows a net profit of 2,055 billion dollars, reversing the loss of $ 1.168 billion the previous year.
Gaming Abstract is a financial report that includes all money spent by customers on games, rooms, food, drinks, and other attractions, net income, or loss being money held by casinos after spending but before federal tax on income and accounting for deductions for extraordinary expenses.
The full 179-page report takes into account the number of employees, room occupancy rate, revenue per available room / RevPar /, and gaming revenue earned per square foot of casino area, as well as other measures.
Decrease in revenue
All of the casinos in question account for $ 24.546 billion in total revenue, more than 10% less than the $ 27.107 billion in 2018, which the regulator sees as the result of a change in the way revenue is recognized by the Financial Accounting Standards Board / FASB /, gaming revenue representing 35.7% of total revenue, generating $ 892.3 million in taxes and gaming fees, or 10.2% of gaming revenue.
Of the 290 casinos, 169 are casinos in Clark County in southern Nevada, including Las Vegas casinos, and reported total revenue of $ 21.9 billion, which provides revenue net of 1.88 billion dollars, the net income of the casinos of the Las Vegas Strip being 1 dollar. 0.45 billion dollars on a total income of 16.5 billion dollars, of which 27% is income from games, while that downtown Las Vegas casinos report net revenue of $ 179.2 million of the total revenue of $ 1.22 billion, of which 46.5% comes from gaming.
In the northern part of the state, Washoe County, including Reno, the 34 casinos included in the report represent $ 128.3 million in net revenue generated out of a total of $ 1.45 billion, of which 42% come from games.
Losses related to bankruptcy reorganization charges in 2018
The general and administrative expenses category in the report represents other general and administrative expenses, including bankruptcy reorganization expenses, 2019 having no corporate expenses recorded in this section in the category, whereas in 2018, Caesars Entertainment was the only one to have these fees.a