Nevada’s gaming industry remains robust as it achieves another milestone, with June marking the 16th consecutive month that the state has surpassed $1 billion in gaming revenue. The Nevada Gaming Control Board (NGCB) reported a total gaming revenue of $1.27 billion for June, reflecting an impressive 8.1 percent year-on-year increase. Furthermore, the fiscal year ended June 30 witnessed a remarkable 37.3 percent growth in gaming win.
Statewide Gaming Revenue Continues to Thrive:
Nevada’s gaming revenue for June soared to $1.27 billion, representing a notable 8.1 percent year-on-year surge. This achievement extends the streak of surpassing $1 billion in revenue for the 16th consecutive month, underlining the industry’s resilience and steady growth. The fiscal year ended June 30 witnessed an exceptional 37.3 percent increase in gaming win, reaching $14.6 billion. This surpasses the previous record set in the fiscal year 2007, firmly establishing Nevada’s position as a premier gaming destination.
Las Vegas Strip:
The renowned Las Vegas Strip experienced significant growth, with gaming revenue reaching approximately $734.8 million in June. This figure represents a remarkable 22.7 percent year-on-year increase and a 19.2 percent surge compared to June 2019, indicating a strong rebound from the pandemic’s impact.
Clark County:
While overall gaming revenue remained robust in Clark County, certain submarkets faced challenges with year-over-year comparisons. Downtown gaming revenue declined by 11 percent, North Las Vegas decreased by 8 percent, Laughlin experienced a decline of 14.6 percent, Boulder Strip fell by 11.8 percent, and Mesquite remained relatively flat.
Washoe County:
Washoe County, which encompasses casinos in Reno, Sparks, and North Lake Tahoe, witnessed a remarkable 20.1 percent year-on-year increase in gaming revenue. This growth further exemplifies the state’s overall success in the gaming sector.
South Lake Tahoe:
In contrast to other regions, South Lake Tahoe encountered a decline in gaming revenue, with a notable decrease of 28.7 percent. This drop may warrant further investigation to understand the underlying factors affecting this particular market.
Sports Betting Sector:
Nevada’s sports betting sector experienced a slight decline in June, with a 10.1 percent decrease in wagering handle compared to the previous year. Total sports bets amounted to $490.3 million, while mobile app wagers accounted for over 67 percent of the overall handle, reaching $329.7 million. Despite the decline in wagering handle, sportsbooks reported revenue of $23.8 million, reflecting an 18.3 percent decrease compared to the previous year.
Nevada’s gaming industry continues to thrive, achieving exceptional revenue figures for the 16th consecutive month. With $1.27 billion in gaming revenue for June and a remarkable 37.3 percent increase in gaming win for the fiscal year ended June 30, the state solidifies its position as a global gaming leader. While certain submarkets faced challenges in Clark County, the Las Vegas Strip and Washoe County performed exceptionally well. The sports betting sector experienced a slight decline but remained lucrative. Nevada’s sustained success in the gaming industry highlights its resilience and enduring appeal to both domestic and international visitors.