During the most recent fiscal year in Nevada, casino taxes and fees exceeded economic forecasts, showcasing a positive outcome for the state’s coffers. According to data from gaming regulators, collections were slightly down in the initial months of the current fiscal calendar, attributed to the unpredictability of casino games and a slight decrease in summer visitation.
In fiscal year 2024, which concluded on June 30, Nevada collected over $1.23 billion from casino-related taxes and fees, reflecting a 4.75 percent increase from fiscal year 2023 and 4.8 percent higher than projected. The taxes on gross gaming revenue, which make up the largest portion of the state’s casino-related collections, amounted to almost $997.7 million in FY ’24, marking a 3 percent increase from the previous year.
Looking ahead to fiscal year 2025, which began on July 1, the state anticipates that casino-related taxes and fees will yield more than $1.1 billion by June 30, 2025. However, data from the Nevada Gaming Control Board and Nevada Gaming Commission indicate that collections in the first two months of the current fiscal year are down by almost $27 million, or 13.1 percent.
When examining the results based on a calendar year, the picture shifts slightly. In the first six months of 2024, the state collected nearly $639.7 million in fees and taxes from regulated gambling, a $21 million increase compared to the same period in 2023, representing a 3.4 percent growth.
In calendar year 2023, Nevada casinos generated more than $1.2 billion in taxes and fees, as outlined in public data. This total marked a 5 percent year-over-year increase from 2022, during which casinos and licensed gaming operators contributed $1.15 billion to the state through taxes and fees.
The majority of the funds collected in 2023, more than 81 percent, came from the graduated tax on monthly gross gambling revenue from licensed gaming facilities, totaling approximately $984.6 million. From January 1 to August 27, taxes on casinos’ gross gaming revenue raised nearly $663.3 million, slightly less than the same period in 2023, reflecting a 0.2 percent decrease year-over-year.
Gaming revenue taxes from casinos and licensees in Clark County, including properties on the Strip and downtown Las Vegas, make up the largest share of the state’s revenue. In the first six months of 2024, Clark County casinos contributed over $563.5 million to state coffers, showing a 4 percent increase year over year. Additionally, counties and municipalities may impose additional taxes on revenue, potentially raising the overall rate by up to 1 percent.
