May 1, 2023
In a world where records are meant to be broken, the next billion dollar month is in the books for Las Vegas. The numbers for March are in, and while the total revenue did slip just a bit, the total was still north of the billion mark. $1.31 billion, to be precise. And that was good enough to extend the streak to 25 months in a row.
The Nevada Gaming Control Board reports that the total win for the state fell just over 3% when compared to March of 2022. The decline is primarily driven by the Las Vegas Strip, where casinos saw about the same reduction in their revenue from slots and table games. Although the Strip was lower than the previous year, it was still able to generate nearly $725 million, which was over 55% of the state’s total win.
It’s not too surprising that March was another billion dollar month for the state. It’s typically a busy time for casinos in Sin City due to the NCAA men’s basketball tournament. However, this was not enough to compensate for a decline of about 14% in table games revenue, which amounted to approximately $300 million.
Meanwhile, casinos down on Fremont Street had a very successful month, with the downtown casinos showing a modest 1% increase in gross gaming revenue. Properties there were able to generate well over $85 million, which is notable considering the increasingly challenging comparisons.
The Las Vegas Convention and Visitors Authority also reported numbers for March. Helping to produce another billion dollar month were the nearly 3.7 million visitors that came to Las Vegas in March, which was almost 10% more than the year before. That spike was fueled by the ongoing return of conventions and exhibitions, which jumped 40% and brought three-quarters of a million people to town by themselves.
