Nevada Casino Revenue Totals $1.24 Billion in February

(AsiaGameHub) –   Nevada’s gaming establishments recorded approximately $1.24 billion in revenue during February, representing a 1.5% year-over-year increase. This milestone marks the 60th consecutive month the state has surpassed the $1 billion threshold, demonstrating the resilience of casino earnings despite a slowdown in tourism.

Good to Know

• The Las Vegas Strip accounted for $696.3 million, representing 56% of the state’s total gaming revenue.
• Growth was bolstered by Clark County properties catering to locals, with the remaining areas of Clark County rising 2.87% to roughly $148 million.
• To date this fiscal year, Nevada has gathered $775.8 million in gaming taxes, a 1.6% rise.

Nevada Growth Sustained by Strip Baccarat and Local Markets

The Las Vegas Strip once again contributed the largest portion, with casinos there reporting $696.3 million in revenue, a 0.86% increase from the previous year. Baccarat was a significant factor, as casinos earned nearly $120 million from the game, with player losses increasing by about $32 million compared to the prior year. The hold percentage reached 14.6%.

Performance in off-Strip locations also provided support. Establishments serving local residents throughout Clark County had a strong month, with the balance of the county generating about $148 million, up 2.87%. These gains helped balance out softer figures in other regions of the state.

Results across different regions were varied. Downtown Las Vegas saw a 4.18% decline to $69.8 million, while Laughlin fell 8.83% to $38.5 million. Conversely, Reno experienced a 7.73% increase to $60.6 million, and Mesquite rose 5.16% to $17.4 million.

Representatives from the Nevada Gaming Control Board noted that casino earnings outperformed tourism trends. Although visitor numbers in Las Vegas began to soften in February of last year, gaming revenue has remained notably stable.

Despite the monthly growth, the Las Vegas Strip is currently trailing its fiscal-year targets. On a statewide level, Nevada is up by approximately $83 million (0.79%) for the fiscal year starting July 1. However, the Strip is down by about $62 million (0.88%).

Nevertheless, the overall outlook remains positive. Nevada continues to exceed pre-pandemic gaming figures, and February marked the fifth year in a row where every month exceeded the $1 billion mark.