Nevada Gaming Revenue Sees Record FebruaryCasinos Report 8.5% Growth To $1.3 Billion |
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A busy month that included the Super Bowl in Las Vegas, Chinese New Year celebrations, and an extra day produced strong Nevada gaming revenue growth and a record February total, according to the state’s Gaming Control Board.
The casino industry reported gross revenue of more than $1.34 billion for February, an 8.5% increase compared to $1.24 million during the same month in 2023. Table games were a key driver of that, growing 24.2% from last February to $514.6 million. Slot machine revenue saw only an increase of 0.6% to $827.6 million. For the fiscal year (July 1, 2023 to Feb. 29, 2024), gross revenues increased 5.23% from the previous fiscal year.
Revenues Bounce Back
The monthly numbers come after January saw just a 0.5% increase compared to January 2023’s total of $1.27 billion. Clark County led the way for the state in February with almost $1.2 billion of the entire total, an increase of 8.9%.
The Strip produced $800.7 million, a jump of 12.4% from last February’s $712.4 million. Strip table game revenue jumped 30.3% to $419.6 million while slots saw a drop of 2.4% to $381 million.
Downtown Las Vegas saw rising revenue numbers, up 2.7% to $76.2 million from last year’s $74.2 million. The area saw similar results as on the Strip with table game revenue rising 14.1% to $24.8 million and slots sliding 2% to $51.4 million. Some other popular Clark County locations saw declines. North Las Vegas dropped 4.4% to $23.8 million and Laughlin fell 7.9% to $42.1 million.
Reno and the Lake Tahoe region proved to be bright spots, according to the latest revenue report. Reno produced growth of 10.1% to $60 million compared to last February’s $54.5 million. South Lake Tahoe revenues grew 12.9% to $21.4 million, up from $18.9 million for the same month in 2023. However, North Lake Tahoe saw a decline of 5.3% to just under $2 million.
The overall growing revenue numbers are in line with some recent online gaming numbers reported in New Jersey, Pennsylvania, and Michigan. However, online poker was mostly flat in those states. Nevada also offers legalized online poker, but those revenue numbers aren’t separated in gaming reports.
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