Nevada gaming revenue returns to growth column in April

Las Vegas
Image: Shutterstock

Nevada gaming operations have returned to revenue growth in April, with operators on the Las Vegas Strip performing well in comparison to the same month the previous year.

According to the Nevada Gaming Control Board, statewide gaming revenue improved by 6.95 per cent year-over-year to $1.24bn (April 2023: $1.16bn).

Although this figure is down in comparison to March’s $1.29bn, it is a return to YoY growth for operations in the Silver State after undergoing a 1.65 per cent YoY decline the previous month.

For the fiscal year – July 1, 2023, to April 30, 2024 – Nevada revenue has risen by 4.67 per cent YoY to $13.2bn (2023: $12.6bn).

Operations on the Strip in April rose by 6.62 per cent in comparison to the same month last year to $666.1m (April 2023: $624.7m). For the fiscal year, revenue for the Strip rose by 6.52 per cent to $7.6bn (2023: $7.1bn).

Per vertical, the NGCB stated that slot machines revenue grew by 5.86 per cent YoY to $886.8m, with multi denomination and one cent generating $586.8m and $216.6m in revenue respectively.

Table, counter and card games revenue improved by 9.8 per cent YoY to $353.4m, with blackjack and baccarat producing $110.2m and $76.1m in revenue respectively.

Sports betting revenue declined by five per cent in comparison to the same period the previous year to $30.8m.

During the month, the NGCB noted that the state collected $70.3m in taxes, up 4.18 per cent in comparison to the $67.5m collected during the same period last year.