January 20, 2024
We haven’t mentioned it in a while, but the billion dollar streak for Nevada gaming revenue has quietly been continuing for over two years. November of last year marked the 33rd consecutive month, in fact. And it was helped a lot by the Las Vegas Grand Prix.
Statewide, casinos and sports betting were able to bring in just north of $1.37 billion. That’s a jump of more than 12% rise from the same time last year. The resorts on the Las Vegas Strip accounted for close to 55% of the state’s total revenue.
Some interesting numbers within the Nevada gaming revenue numbers find that sports betting rose almost 10% and generated more than $60 million, with over $35 million of that total coming from mobile devices. Slot machine revenues fell slightly, but baccarat jumped over 35% due to the influx of “high rollers” for the big race.
It wasn’t all rose petals, though. Downtown Las Vegas and the Fremont Street area resorts reported just north of $81 million in gaming revenue. That’s a dip of about 2% when compared to the same time last year, which generated close to $83 million.
Senior Economic Analyst Nevada Gaming Control Board, Michael Lawton, stated that “The four-day period beginning on November 16th was extremely profitable for both gaming and non-gaming activity on the Las Vegas Strip with some properties estimating those days established all-time record levels of revenue.”
Looking forward to when the numbers for December are reported, there is a lot of optimism that the streak of billion dollar months for Nevada gaming revenue will continue. This due to the New Year’s Even holiday, and the fact that two new properties were welcomed with the grand opening of Fontainebleau and Durango casinos.
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