Operator News
US – Temperatures and revenues soar to record levels in Nevada
By Phil - 31 August 2023
July saw record temperatures and record gaming revenue for Nevada as the state and the Las Vegas Strip generated their best ever revenues.
Nevada’s total came in at $1.4bn, up by 6.7 per cent or $88m, compared to last year, fuelled by the third best slot revenue in history and the best baccarat hold since 2003.
The Las Vegas Strip generated $1.2bn, up eight per cent from July 2022.
The previous best total for the state was $1.35bn recorded in July 2021, meaning July 2023 was better by $44.9m, or 3.3 per cent. For the year so far, Nevada is up 4.1 per cent with the Strip up 6.5 per cent. July marked the 29th consecutive month that Nevada’s GGR surpassed $1bn, up 37 per cent from the pre-pandemic July 2019.
Michael Lawton, a senior economic analyst with the Nevada Gaming Control Board, said: “This month’s record amounts were driven by slot win. Although it wasn’t an all-time record, it was the third highest total all-time for the state and the second highest total for the Strip. The baccarat totals led to the second highest game- and table-win totals all-time for the state and the Strip. The events calendar, coupled with the timing of the Fourth of July holiday, contributed to these results as well.”
“The Reader’s Digest version of what drove this month’s record win amounts is slot win, which although wasn’t an all-time record, it was the third-highest total all time for the state and the second-highest total for the Strip,” he added. “Then, of course, the baccarat figures are incredibly strong albeit due to extremely elevated hold. Those baccarat totals led to the second highest game and table win totals all-time for the state and the Strip. When you put it all together, a new all-time record for the state and the Strip was established in July 2023.”
The locals market saw a 6.1 per cent, Downtown Las Vegas was up 8.9 per cent to $65.3m, whilst revenues on the Boulder Strip increased 9.1 per cent to $79.4m. Only North Las Vegas generated less than last year with a two per cent dip.
