Nevada collects 35 million from unclaimed winnings

nevada

Nevada casinos experienced a slight increase in revenue during 2016 to US$11.2 billion.

The state collected the money from unclaimed winning slot and video machine tickets.

US.- State officials confirmed that Nevada has collected more than US$35 million in unclaimed winnings from slot and video machine tickets. The Nevada Gaming Control Board directs unclaimed winnings within six months.

Back in 2011, the state passed a law that establishes that the Nevada’s gaming control board has the authority to redirect the winnings six months after being unclaimed: the facilities get 25 percent of the money, whilst the state general fund gets 75 percent of the revenue. According to Las Vegas Sun, just in fiscal year 2016 more than US$12 million worth of tickets were unacknowledged in Nevada. Almost US$9 million of that money was sent to the state and the rest was received by casinos.

Director of public affairs at MGM Resorts, Mary Hynes, said: “If we find a voucher, we will try to reconnect with its rightful owner, typically if it’s at least $10 or more. Sometimes people leave them in the machine, and we find them and we do try to send it to them.” In the last few months the state has experienced growth in its revenue. The Gaming Control Board report revealed the total revenue collection of nearly US$990 million in October. Last year, the sector had announced a result of US$887 million during the same month. The casino revenue growth led to the state collection of US$59.5 million in taxes, which represents almost 14 percent of increment from the same period in 2015.