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Las Vegas Gaming and Tourism Revenue Increases

Refund Management Services (www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, is reacting to September’s increase in Las Vegas tourism and gaming revenue.

According to the Las Vegas Convention and Visitors Authority, 3.5 million people visited the area in September; a six percent increase over the same period in 2014. This statistic represents the highest percentage increase in 2015 and the largest bump since January 2014. For the first three quarters of 2015, visitation volume was 2.4% above 2014 figures with 31.9 million, positioning Las Vegas for a record total for the year. (Source: “September 2015 Executive Summary,” Las Vegas Convention and Visitors Authority web site, October 29, 2015; http://www.lvcva.com/includes/content/images/media/docs/ES-Sep-2015.pdf.)

“Not surprisingly, an increase in tourism also translated into increased gaming revenue. After a three month slide, both Nevada and the Strip saw gaming revenue increase, with Nevada collecting $916.3 million from gamblers, a 1.5% increase year-over-year. Meanwhile, on the Strip, casino revenue advanced two percent to $504.8 million,” says Brooke Sacks, Vice President of Marketing and Business Development at Refund Management Services. “Downtown gaming revenue increased 9.29% year-over-year to $47.5 million and has increased for the last eight consecutive months and 12 of the last 14 months.” (Source: “Win Revenue Summary, October 2015,” Nevada Gaming Control Board web site, October 29, 2015; http://gaming.nv.gov/modules/showdocument.aspx?documentid=10527.)

Nevada, and in particular Las Vegas, are popular travel destination for tourists visiting the United States. That said, it’s important to remember that if a tourist wins a significant amount of money, typically over $1,200, those gaming winnings could be subject to a 30% withholding tax by the IRS. That tax applies to the vast majority of non-U.S. visitors to the United States, including those from Australia, Canada, China, Mexico, New Zealand, Saudi Arabia, and Thailand.

“There is a way for non-U.S. residents to recoup some or all of their 30% gambling winnings withheld by the IRS by contacting RMS,” Sacks concludes “Founded by a Canadian Chartered Accountant, Refund Management Services is the most reliable and experienced gaming and casino tax refund provider for non-U.S. residents. It’s important to know that RMS has never been refused an eligible refund.”

As registered agents of the IRS, Refund Management Services (RMS) helps Canadians and other non-U.S. residents recover all or a portion of their taxes up to three years after their winnings have been withheld. With the expertise in gaming-related tax laws, RMS understands all the IRS requirements to ensure that any entitled refund is successfully recovered. RMS only gets paid for successful gambling tax refunds and is a member of the Better Business Bureau and the Las Vegas Chamber of Commerce. To find out how Refund Management Services can help with U.S. gambling tax recovery, contact Refund Management Services toll-free from the United States and Canada at 1-888-272-5559 or e-mail RMS at [email protected].