January pulled in $1.27 billion for Nevada’s casinos

In January, Nevada casinos generated $1.27 billion in revenue despite the advent of high-end resorts being inaugurated in December and the Super Bowl XLVIII taking place in February.

December was a momentous month for the casino industry, grossing $1.43 billion. A slight decline in the figure was observed in January. The revenues of the casinos located on the Las Vegas Strip reached a record low of $686.2 million, which was significantly lower than the $905.4 million recorded in December. 

According to Michael Lawton, senior economic analyst at the Gaming Control Board, the Strip has not experienced a low point since June 2023. In his opinion, the construction of the Las Vegas Grand Prix F1 in November and December deterred visitors from the Strip. Instead, they planned for January and February, coinciding with the Super Bowl.

However, downtown Las Vegas, the Boulder Strip, and Off-Strip local casinos began operations in December. The casinos in “Balance of Clark County” were able to generate $169.3 million in revenue. Durango Casino & Resort was inaugurated as part of this endeavor in December.

Based on casino news, Nevada has experienced a 4.77% increase since 2023; the Strip is currently up 6.78%. The revenue generated by slot machines was $135.8 million.

As of January 2024, Nevada experienced a 0.51% increase in value. The Strip experienced a decline of 3.79% in comparison to the previous year, 2023. Earnings on the Reno market increased by 55.0% compared to 2023. 

The Super Bowl has generated anticipation among Nevada’s casinos regarding revenues exceeding $1 billion over the next three years.

In Nevada, percentage fee collections increased by 3.74% to $99.7 million in February, compared to the same month in 2023.