It was a mixed month for Nevada gambling operators in September, as seen in the latest monthly revenue release from the Nevada Gaming Control Board (NGCB).
Overall gambling revenue in the Silver State for the month was $1.312 billion. That’s up 3.3% on September of last year, and an increase from August’s $1.163 billion in revenues. It is also a comeback from two months of revenues falling month-to- month and year-on-year.
However, September also concluded the first quarter of the 2024 fiscal year, which started in June. Now that the data is in, it shows gambling revenues were down 2.6% compared to the first quarter of 2023.
The Las Vegas Strip also saw a 1.8% decline in gambling revenue in September. That marks the first time since before the 2020 pandemic shutdowns that the resort corridor’s gambling win has declined three months in a row.
Revenues also declined over the quarter. But a huge downswing in baccarat win for the house year-on-year has affected the state of play. Other areas did see revenues increase in September — notably, downtown Las Vegas and the Boulder Strip. From the $1.13 billion in overall revenue from its 440 licensed gambling venues, the Silver State took $99.42 million in taxes.
The Breakdown
Clark County continued to lead revenue numbers for the month, coming in at $1.13 billion out of the total $1.312 billion for the state. Of individual locales, the mega casinos of the Las Vegas Strip far outpaced all others. Despite being down 1.83% on September 2023’s revenues, the resort corridor still brought in $727.66 million from its gambling operations.
By far the most improved numbers in September were for downtown Las Vegas. The entertainment and gambling district was up 33% on last year, hitting $91 million in revenue. Downtown Las Vegas was the only Nevada gambling district to hit double-digit growth for the quarter, totaling 11.85%.
In terms of gambling games, slots were the primary revenue driver by a long shot. The machines accounted for $896 million out of the $1.3 billion total. So it’s not hard to see why Nevada’s casinos are dropping table games and axing poker rooms in favor of more slots.
The state’s casinos, mostly the luxury Las Vegas Strip resorts, won far less on baccarat in September than last year. The house’s win was down 34.3% on the highly volatile game, which is favored by high rollers like UFC owner Dana White.
Baccarat Bust
Over the financial quarter that ended in September, only Downtown Las Vegas casinos showed strong growth. Mesquite (5.46%), North Lake Tahoe (1.42%), Reno (0.79%), and the Boulder Strip (0.51%) were the only other Nevada districts to see any gambling growth.
Over the quarter, the Las Vegas Strip’s revenues fell 7.23%, a hefty 18% swing in favor of Downtown Las Vegas, which grew by 11%. However, September’s figures for the high-end casino resorts were brought down by a 34.72% decrease in baccarat win year-on-year. It was still a highly profitable game at $76 million for the month on the Las Vegas Strip.
But compared to the luck the house had through the same period of 2023 – when the card game brought in $147 million – this September was a big fall. Enough to push down overall Las Vegas Strip totals.
David is an online casino expert who specializes in online slots and boasts over 10 years experience writing about iGaming. He has written for a wide range of notable publications, including eSports Insider and WordPlay Magazine.
David graduated Derby University with a BA Degree in English Literature and Creative Writing.
