Nevada Gambling Revenue Hits $1.2bn in January 2024
LISTEN TO THIS ARTICLE:While Las Vegas is facing various challenges, including a decline in revenue on the famous Las Vegas Strip, January saw Nevada’s overall revenue reach $1.2 billion suggesting that there may be a strong year ahead.
The figure, released by the Nevada Gaming Control Board, is a small increase from January 2023 and represents the largest total ever for January. The revenue comes from several sources such as in-person betting in casinos and sportsbooks, online sports betting, online poker, and horseracing.
Big Revenue Increase in Reno
There was a sizeable increase in revenue from Washoe County and in particular Reno. It was up year-over-year by 55%.
Furthermore, sportsbooks across the state also enjoyed a good month with total winnings of more than $64.7 million. This was the highest amount in the past seven years and was a significant contributor to the months’ revenue gains.
Revenues Down on the Las Vegas Strip
While there was good news from some parts of the state, the Las Vegas Strip saw a 3.8% year-over-year fall in casino revenue, mainly due to a decline in table game earnings. Nonetheless, there were revenue increases in several regions including downtown Las Vegas, Laughlin, Mesquite, and rural areas.
Furthermore, Nevada enjoyed a strong 2023 in which it saw record gaming revenue of $15.5 billion in the fiscal year.
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