The Nevada Gaming Control Board (NGCB) has released its monthly gaming revenue report, revealing that the state’s casinos generated $1.21 billion in gaming revenue in August. While this marks a slight year-on-year increase of 0.07 percent, it represents a 14.3 percent decrease compared to July’s revenue of $1.4 billion.
Performance by Region:
The Las Vegas Strip recorded $666.7 million in revenue, a modest 1 percent year-on-year increase.
Clark County, encompassing various areas including the Strip, downtown Las Vegas, North Las Vegas, the Boulder Strip, and its surroundings, generated $1.02 billion, reflecting a 0.18 percent increase.
Washoe County, which includes casinos in Reno, Sparks, and North Lake Tahoe, reported a 2 percent year-on-year revenue increase.
Revenue Breakdown:
Slot machines accounted for a significant portion of total revenue at $829.2 million, although this represented a 2.1 percent decrease compared to the previous year.
Multi-denomination slot games generated $479.3 million in revenue, while penny slots contributed $256.9 million.
Revenue from table, counter, and card games increased by 5.2 percent to reach $380.1 million. Notably, baccarat led the way with $116.2 million, marking a 21 percent year-on-year increase.
Sportsbook Performance:
Sportsbook revenue in Nevada for August reached $18.1 million, demonstrating a noteworthy 12.4 percent increase from the same period in 2022.
Mobile wagering accounted for $13.2 million of the total sportsbook revenue, with a handle (total bets placed) of $431.3 million.
State Tax Collections:
The state collected $75.7 million in percentage fees for September 2023, based on taxable revenues generated in August 2023.
This figure represents a 6.97 percent decrease compared to the same period in 2022 when percentage fee collections amounted to $81.3 million.
The August gaming revenue report from Nevada indicates a modest year-on-year increase in casino revenue, with the Las Vegas Strip and key regions contributing to the overall performance. While slot revenue experienced a slight decline, table games, particularly baccarat, saw notable growth. Sportsbook revenue continues to rise, with mobile wagering playing a significant role. Despite a decrease in state tax collections compared to the previous year, Nevada’s gaming industry remains resilient and adaptable in the ever-changing landscape of the casino market.