The Nevada Gaming Control Board (NGCB) has released its report on gaming revenue for April, indicating that the state’s casinos generated $1.15 billion in gaming revenue. This marks a significant 2.8% increase year-on-year, showcasing the continued resilience of the Nevada gaming industry.
Regional Breakdown:
The Las Vegas Strip, a prominent gaming hub, played a crucial role in this positive performance, contributing $624.7 million to the total revenue. This represents a noteworthy 5.2% year-on-year increase. Clark County, encompassing the Strip, downtown Las Vegas, North Las Vegas, the Boulder Strip, and surrounding areas, posted revenue of $994.9 million, indicating a solid 3.6% rise. Meanwhile, Washoe County, which hosts casinos in Reno, Sparks, and North Lake Tahoe, reported a 2.3% year-on-year growth in revenue.
Revenue by Gaming Segment:
Slot machines emerged as a major revenue driver, accounting for $837.9 million in revenue for the month, reflecting a robust 4.2% increase compared to the same month last year. Table, counter, and card games revenue reached $321.8 million, experiencing a slight 0.8% decrease. The sports betting sector showed remarkable growth, collecting $32.4 million in revenue, marking an impressive 27.8% increase from the previous year. Total wagers increased by 2.7% to reach $598 million, with mobile sports wagering representing a substantial 66% of all sports bets.
State Percentage Fee Collections:
In May 2023, the state collected $67.4 million in percentage fees, based on the taxable revenues generated in April 2023. While this demonstrates the continued financial contribution of the gaming industry to the state, it reflects a 3.4% (equivalent to $2.4 million) decrease compared to May of the previous year, when percentage fee collections reached $69.8 million.
Nevada’s gaming industry continues to exhibit its vitality, with a 2.8% year-on-year increase in gaming revenue reported for April. The positive trends are particularly evident on the Las Vegas Strip, reflecting the area’s enduring appeal as a gaming destination. The dominance of slot machines and the surge in sports betting revenue illustrate the evolving preferences of patrons. While the state’s percentage fee collections experienced a modest decline, the industry’s overall performance suggests a promising trajectory for Nevada’s gaming sector.