Nevada Gambling Revenue Declines in November 2024
Nevada’s gaming industry reported $1.31 billion in revenue for November 2024, a 4.21% drop compared to November 2023. This marked the second consecutive month of year-over-year declines, driven by lower revenues from major markets and shifting visitor behavior.
Declines on the Las Vegas Strip and Beyond
The Las Vegas Strip, the state’s largest gaming hub, generated $788.7 million, down 3.9% from the previous year. This marked the fifth consecutive monthly decline for the Strip. Clark County as a whole, which includes the Strip, downtown Las Vegas, and other nearby areas, saw gaming revenue fall 4.2% to $1.16 billion.
Washoe County, home to Reno and Sparks, recorded a 6% decrease, with gaming revenue totaling $76 million. These declines underscored challenges across Nevada’s key gaming regions.
Contributing Factors to the Decline
Lower attendance at the 2024 Formula 1 Las Vegas Grand Prix compared to its inaugural event in 2023 weighed on November revenues. The 2023 race drew 145,000 unique visitors and generated $1.5 billion in economic impact, while the 2024 event failed to match these figures.
Timing also played a role. With November ending on a Saturday, revenue from weekend gaming on November 30 was included in December reports, impacting year-over-year comparisons. Slot machine revenue dropped 6.7% to $810.6 million, contributing significantly to the overall decline.
Growth in Smaller Markets
Several smaller regions posted gains, offering a bright spot:
- Elko County: Revenue rose 4.7% to $33.7 million.
- North Las Vegas: Part of Clark County, this area saw a 6.1% increase, reaching $24.5 million.
- Mesquite: Also in Clark County, Mesquite recorded an 8.8% rise to $16.4 million.
- Sparks: Washoe County’s Sparks grew by 8%, generating $15 million.
- North Lake Tahoe: Revenue climbed 8.9%, totaling $1.8 million.
Despite these gains, they were not enough to offset declines in larger markets like the Las Vegas Strip and Reno.
Sports Betting and Table Games Hold Steady
Table, counter, and card games remained stable, increasing slightly by 0.07% to $505.9 million. Meanwhile, sportsbooks surged, with $67.5 million in revenue—a 65% increase over November 2023.
Tax Revenue Rises
Nevada collected $87.2 million in gaming fees in December 2024, based on taxable revenues from November. This represented a 1.5% increase compared to the $85.8 million collected in December 2023.
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