Nevada Sees Casino Revenue Decline Once AgainLas Vegas Strip Still Trending Downward |
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Brick-and-mortar and online casinos in Nevada saw $1.29 billion in revenue in October, according to the state’s Gaming Control Board, a drop of 2.2% compared to $1.31 billion for the same month in 2023.
The statewide drop comes after the Las Vegas Strip also saw a revenue decrease in September. That downward movement has now carried over to the entire state. For the fiscal year (July 1 through Oct.r 31), revenue has decreased 2.5% statewide.
A big part of the overall drop came from table games, which saw $353.9 million in revenue – down 15.8%. Slot machine revenue offset that a bit, rising 4.2% to $932.3 million compared to October 2023.
Clark County, home to Las Vegas, saw similar trends with table game revenue dropping 15.2% from last October to $334.6 million this year. But slot revenue grew 4.8% to $778.2 million. The Strip saw a major table game drop as well, falling 3.1% overall. Table game revenue fell 14.5% to $263.7 million with slot revenue up 5.5% to $428.3 million.
Downtown Las Vegas also struggled, seeing an overall revenue drop of 11% to $86.8 million compared to last October’s $97.5 million. North Las Vegas was also down 3.8% to $22.5 million and Laughlin saw a 6.8% decrease to $44.3 million. Overall, it was a tough month for Clark County.
What could have caused the downward trends? A major drop in high-stakes baccarat numbers affected September revenue and that may have carried over to October. Perhaps Americans were also more focused on the election than booking a Vegas getaway. Economic concerns may have also played a role as inflation remains a concern for many Americans.
Other parts of the state saw similar results. Reno revenue was down 3.1% to $68.2 million and North Lake Tahoe fell 5.4% to $1.8 million. South Lake Tahoe proved to be one of the bright spots in the state, surging 18.7% to $20.8 million.
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