Nevada’s May Gambling Revenues Broke Records (Again)

Nevada’s gambling business is setting a record pace in 2024. The Silver State’s total gambling revenues hit $1.32 billion in May, according to the latest monthly data release from the Nevada Gaming Control Board. 

That’s a new record for May revenues. The total was up 2.45% compared to May 2023, and it continued the 39-month streak of billion-dollar revenue months. The longest streak before this was eight months, between October 2006 and May 2007. 

$1.32 billion is also up 6.45% on April’s $1.24 billion, marking a return to consecutive monthly growth after two months of slight declines from February’s huge boom. 

The rise was mostly driven by a renewed return of slots customers to Las Vegas casinos, with the previous record high levels of baccarat revenues dropping considerably, compared to April.

All of this gambling activity generated $88.49 million in tax for Nevada’s state coffers for the month. That’s up 11.97% on the $79.04 million Silver State casinos paid from their May 2023 revenues. 

Detailed Breakdown 

As usual, the Las Vegas Strip casinos were the biggest driver of revenues in this latest record month.

Clark County saw a 2.9% increase in revenues compared to May 2023. Casinos in the county, including most of the major Las Vegas casino resorts, accounted for $1.148 billion of the $1.32 billion monthly pot. 

The biggest growth was in Texas Hold ‘Em poker, probably caused by excitement leading up to the World Series of Poker, and also in roulette and high-limit slots. 

Roulette revenues in Clark County were up 48% year-on-year, while Texas Hold ‘Em Poker casino win was up 46%.

The biggest drop-off of the month was in general card games, with revenues on the felt down 13.6% on the May prior. 

Statewide, the Las Vegas Strip dominated the revenues of any other area. But it was actually North Lake Tahoe that showed the most growth at 16.7% up on May 2023. But with revenues five hundred times less than Clark County ($2.024 million for the month), its numbers are more susceptible to swings. 

The fast-growing town of Mesquite was just behind, with its three casinos bringing in 8.5% more revenues than May last year.

The biggest drop-off for any area was in Laughlin. The small casino town has generally been doing very well in 2024. However, in May, its casino operator gambling revenues fell 21.41% year-on-year.

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