Nevada’s casinos set a new annual gaming revenue record for the third consecutive year, amassing $15.bn in gaming revenue in 2023, marking a 4.6 per cent increase from the previous year.
Casinos on the Las Vegas Strip casinos generated a record-breaking $8.9bn in revenue, marking a 7.4 per cent increase and contributing over 57 per cent to the state’-wide’s GGR total.
December generated $1.43bn in gaming revenue, cementing a nine percent increase from last year and setting a new single-month personal best in revenue record. The Strip generated its best ever single month of revenue bringing in $909.6m in December. There was also a new rcord at Harry Reid International Airport where passenger volume hit new heights with 57.6m travelers, an increase of nine per cent from the previous year.
Several local markets including Downtown, Las Vegas local casinos, Mesquite, Sparks, Elko County, West Wendover and Elko County also secured new highs.
Mike Lawton, the Control Board’s senior economic analyst, said: “Nevada’s record level of gaming win over this time period can be attributed to several factors, including multiple special events that occurred throughout the year and steady demand for gaming-related activities by resilient customers whose behavior has remained consistent in the face of several challenges, including inflation and rising interest rates.
“Additionally, Nevada has continued to benefit from the surging demand for leisure travel domestically and internationally and a healthy local economy experiencing record employment levels. However, the driving force behind this year’s record gaming-win totals was the Las Vegas Strip, which accounted for 90.3 per cent of this year’s $679.3m growth over 2022. When excluding the Strip from this year’s totals, statewide total win increased just one per cent or $66.2m.”
The Strip’s slot win came in at $446.1m, a new all-time record, and increased 10.1 per cent. Nevada sportsbooks generated a single–year record of $481.3m in GGR in 2023, up 7.7 per cent from the previous year with mobile betting accounting for 65.8 per cent of all wagers.