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Nevada revenue gains driven by F1 Grand Prix in November 2023

| By Richard Mulligan
Nevada saw a more than 12% year-on-year increase in gaming win in November 2023 as punters flocked to the state for Formula One’s Las Vegas Grand Prix.

According to figures published by the Nevada Gaming Control Board, some $1.37bn was made by the state’s establishments in gaming revenue in November.

The 12.6% year-on-year increase in Nevada gaming revenue was assisted by the Formula One race, which took place from 16-18 November. It has been reported that more than 100,000 motorsport fans headed to the city to enjoy the race.

Growth in November was far greater than that seen in previous months. Win was up by 5.6% over the course of the most recent three-month period. Over the last 12 months, Nevada’s total gaming win is up 4.9% to $15.4bn.

Nevada gaming revenue: Baccarat continues to flourish

Table games were the biggest contributor to Nevada gaming revenue in November. While still a smaller segment than slots, table games win grew by 44.5% to $505.5m. Slots win actually dropped slightly but still brought in $868.8m of gaming revenue.

Baccarat continued its astonishing growth record as the high-roller favourite grew by more than 200% year-on-year. In total, it accounted for $181.4m of win. The next biggest segment in table games was twenty-one, which generated $121.2m.

Within Clark County, which includes Las Vegas, total win was up 14.3% to $1.21bn in total gaming revenue. The Las Vegas Strip itself saw a 22.6% rise in win to $821.0m during the month.

During November, mobile sports betting win was up 5.4% year-on-year to $21.2m. While betting on basketball produced a 22.5% increase in win to $11.8m, NFL was down 23.3% to $17.6m.

The state of Nevada collected $85.4m in percentage fees during the month, based upon the taxable revenues generated in November 2023. This represents a 9.49% increase compared to the same period in 2022, when percentage fee collections were $78.0m.

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