Nevada casinos return to the black

• The Nevada Gaming Control Board publishes its final report on FY16 casino revenue numbers.
• Standing out was the $979M in net income tallied for the year by the state's larger casinos, compared to a loss in 2015 of $662M in FY15. It's the first time since FY08 that the 273 larger Nevada casinos haven't reported a fiscal year net loss.
• Coin operated devices generated 66.1% of all casino revenue, while pit revenue was 30.2% and sports pool revenue came in at 1.9%.
• The share of revenue derived from gambling decreased 60 bps to 42.6%.
• Nevada Gaming Abstract 2016 (pdf)
• Related stocks: CZR, CACQ, BYD, FLL, CZR, WYNN, MGM, LVS.
• Related ETF: BJK.