Nevada Casinos Report Second Largest Gaming Revenue Month EverGambling Revenue Surges At Las Vegas Strip Casinos Following Busy Month |
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Gaming revenue was up big in Nevada during the month of November – reaching $1.37 billion, the state’s Gaming Control Board announced on Thursday.
The take was not only a record for November, but it was the second biggest month of gambling revenue for the state ever, trailing only the $1.4 billion collected in July. This marks the 33 consecutive month of at least $1 billion in gaming revenue.
This amounts to almost a 12.6% increase compared to just over $1.2 billion from November 2022. Overall, gaming continues to surge in the Silver State with total revenue for the fiscal year seeing an increase of 4.7%.
The upward trend continued for several other segments within the Nevada market as well. Here’s a look at some of the financial statistics.
Strip Casinos See Significant Revenue Increases
In Las Vegas, Strip properties saw a major surge when compared to November of last year. The area saw revenue of $821 million compared to $670 million in November 2022. That accounts for a rise of more than 22.6% after the city hosted big events such as the Formula 1 Las Vegas Grand Prix, three Raiders games, and multiple Golden Knights games.
Year-to-date Strip totals are also on the rise, reaching $6.8 billion so far, up 4.7% from the $6.3 billion from the same period in 2022. However, downtown Las Vegas wasn’t as lucky – with revenue of $81.1 million falling 1.9% from November 2022’s total of $82.7 million.
Despite declines in much of Clark County, the Strip totals contributed to an overall surge in the region. Clark County casino properties reported $1.37 billion in revenue for November, compared to $1.2 billion in the same month in 2022.
Renoe was another bright spot for the state in November, especially in comparison to nearby Lake Tahoe properties. The city saw revenue of $58 million, up 3.5% from last November’s revenue of $56 million. North Lake Tahoe saw an 8.2% decline to $1.6 million from $1.8 million in 2022. South Lake Tahoe also dropped 8% to $18.1 million from $19.7 million in November 2022.
The November numbers produced $85.4 million in fees for the state during December 2023. This is a 9.5% increase ($7.4 million) compared to the December 2022 total of almost $78 million.
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