According to the Nevada Gaming Control Board, Clark County received a record-breaking $1,125 billion in gaming revenue in November 2023. The figure has climbed by 14.3% since November 2022. This was mostly related to the Formula One Las Vegas Grand Prix, which took place between November 16th and 18th. Additionally, a significant number of commercial establishments were forced to bear the burden of it.
As per the assessment of Michael Lawton, a senior economic analyst at the Control Board, The Grand Prix undeniably contributed significantly to revenue generation.
Baccarat emerged as the primary contributor to Las Vegas’s revenue, generating $821 million, representing a 22.65% increase compared to the previous year.
As per Lawton, the contribution of Baccarat became apparent while considering the increase in earnings to the tune of 78.6% in the overall growth of the state. The point was further proved by the earnings made by the 25 registered casinos on the Strip, amounting to $72 million and witnessing a rise of $160 million as compared to the previous year. Yet, the month of July was the winner, with earnings of $1.404 billion and $834.9 million.
Normally, July is considered to be the most lucrative month.
Besides the Las Vegas Grand Prix, there was also the u2, which was being held at the Sphere and Usher. It organized various events at Dolby Live within Park MGM in November. The Las Vegas Raiders, too, contributed.
Leaving aside the Strip, the remainder of the state had a 0.3% increase, with prizes totaling $38.3 million. Several Southern Nevada markets also contributed. Downtown Las Vegas, Laughlin, and the Boulder Strip all experienced respective declines of 1.9%, 2.5%, and 2. 25%. Mesquite and North Las Vegas remained unchanged. North and South Lake Tahoe saw decreases of 8% and 2%, respectively, in November compared to the previous year.
Taxes from gaming went up to $85.4 million, according to the taxable amount being 6.75%. Over six months, it added up to $499.7 million, which meant a raise of 3.2% as compared to 2022. In the case of Strip Gaming, this is a first-time win, going up to 7% more than the previous year.
Strip tables generated $410.1 million. Tabletop gaming brought around $2.7 billion. For instance, they made $410.9 million in Strip slots. Coin-in was responsible for about $5 billion. Nevada Sportsbook won $41 million, while mobile betting brought in $625 million, accounting for 67.8% of total bets.
