In a remarkable achievement, the Nevada Gaming Control Board (NGCB) has announced that Nevada’s casinos generated an impressive $1.32 billion in gaming revenue for May 2024. This figure marks a 2.45% increase compared to the same month last year and sets a new record for May revenue.
Las Vegas Strip Revenue
The Las Vegas Strip, the most iconic and high-profile segment of Nevada’s casino industry, generated $742.4 million in May 2024. This represents a 3.7% increase from the previous year, highlighting the Strip’s continued allure and growing popularity among tourists and locals alike.
Clark County Revenue
Clark County, which encompasses not only the Strip but also downtown Las Vegas, North Las Vegas, the Boulder Strip, and surrounding areas, reported total gaming revenue of $1.5 billion in May 2024. This is a 3% increase year-on-year, reflecting positive trends across various parts of the county.
Washoe County Revenue
Washoe County, including casino hubs like Reno, Sparks, and North Lake Tahoe, saw revenue of $90.4 million in May. This amount contributes to the overall positive performance of Nevada’s gaming industry, though it represents a smaller slice compared to Clark County and the Las Vegas Strip.
Slot Machine Revenue
Slot machines continued to be a major driver of revenue, contributing $884.3 million in May 2024. This is a 1% increase from the previous year, underlining the enduring popularity of slot games among casino patrons.
Table Games Revenue
Revenue from table, counter, and card games reached $332.4 million in May 2024, marking a notable 5.5% increase compared to May 2023. This growth indicates a strong performance in games such as blackjack, poker, and roulette, appealing to a diverse range of players.
Total Winnings
Nevada sportsbooks reported winnings of $36 million in May 2024, a substantial 19.8% increase from the previous year. This rise in sportsbook revenue highlights the growing interest and engagement in sports betting within the state.
Wagering Trends
Total sportsbook wagers amounted to $515.1 million, a decrease of 2.3% from May 2023, when wagers totaled $527 million. The decline in overall wagers is accompanied by a shift in how bets are placed, with mobile wagers becoming increasingly prominent.
Mobile Wagers
Mobile sports betting continues to dominate the market, with $351.2 million wagered through mobile platforms in May 2024. This represents a 1.9% decrease from the previous year, but mobile wagers still account for a significant 68.2% of all bets placed, underscoring the growing preference for convenience in sports betting.
State Revenue from Gaming Fees
Nevada’s state government collected $88.5 million in percentage fees based on the taxable revenue generated in May 2024. This marks an 11.97% increase compared to June 2023, when fee collections were $79 million. This rise in fee collections reflects the overall growth in gaming revenue and its positive impact on state finances.
May 2024 has proven to be a landmark month for Nevada’s casino industry, with record-setting revenue and strong performance across various sectors. The Las Vegas Strip and Clark County have led the way in revenue growth, while slot machines and table games continue to be major revenue drivers. The sportsbook sector also showed robust performance, despite a slight dip in overall wagering amounts. The increase in state revenue from gaming fees further underscores the positive trends in Nevada’s gaming market.