Nevada’s December Gaming Boom: $1.43B Revenue Record”

The casinos in Nevada announced a noteworthy total gaming revenue of $1.43 billion in December, reflecting a substantial 9.04% surge compared to December 2022 when the reported gaming win stood at $1.31 billion. This remarkable performance underscores the thriving nature of the gaming industry in the state.

Remarkably, this accomplishment signifies the 34th consecutive month of Nevada's statewide gaming revenue surpassing the $1 billion mark, a trend that has consistently exceeded the previous monthly high observed in July.

For the fiscal year spanning from July 1, 2023, to December 31, 2023, the gaming win has exhibited an impressive 5.49% increase, as indicated by the latest release from the Nevada Gaming Control Board. This sustained growth reinforces the robust health of the gaming sector in the region.

Delving into the specifics of the December 2023 figures, it's noteworthy that three out of the 15 Nevada regions reported a yearly decline in gaming revenue. This nuanced insight adds depth to the overall narrative, showcasing variations in performance across different sectors of the state's gaming landscape.

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The key points

• In Clark County, there was a substantial 9.75% annual increase, with a collection of $1.27 billion.
• Washoe County, on the other hand, experienced a 2.87% annual drop, generating $80.35 million.
• South Lake Tahoe contributed to a 2.99% annual increase, bringing in $16.12 million.
• Elko County showed a notable 14.96% yearly rise, producing $36.42 million.
• The Carson Valley Area reported a 13.51% yearly surge, contributing $11.71 million.
• Las Vegas Strip casinos played a pivotal role in the total yearly increase, contributing to the $905.4 million gaming win, representing an 11.2% increase from December 2022's $814.2 million. Elko County stood out as the region with the most significant yearly increase, driven by both Wendover (14.28%) and Balance of County (16.59%).

Conversely, Washoe County was the only area to show a negative change from the same period last year, reporting a 2.87% drop, primarily impacted by Reno's 7.21% decline. Other regions that reported yearly declines were North Las Vegas and Laughlin, both belonging to Clark County.

 

The Follow Ups

In terms of percentage fees, the Nevada Gaming Control Board's December 2023 report revealed that the state collected $84.92 million in January 2024. This figure reflects a remarkable 27.27% increase from January 2023 when percentage fee collections totaled $66.73 million.

Shifting the focus to sports betting, December saw Nevada's betting handle nearly reach $843.5 million. While this places Nevada's December sports betting handle among the top 10 in the US, it still represents a decrease on both a monthly and yearly basis. However, the state's gaming revenue of $59.1 million in December indicated progress, showcasing a 7.06% increase compared to the same period last year ($55.20 million) and a significant 44.18% monthly rise from Nevada's November gaming revenue of $40.99 million.

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