Nevada gaming flat in April despite tariff, travel fears

In a month that was dominated by tariff announcements and economic uncertainty, the Nevada gaming industry generated gross gaming revenue of $1.23 billion in April, according to data from the Nevada Gaming Control Board. The total was flat year-on-year and the state is now down 1% for the fiscal year to date.

The Las Vegas Strip posted GGR of $646.8 million, down just under 3% YoY. That represents the third consecutive monthly decline and the eighth in the last nine months. Following a string of record performances post-Covid, the Strip is -3.3% so far in FY25.

Baccarat, a primary indicator of Strip performance, was actually up 41% YoY to $108.3 million despite the overall market lag. Even with the strong month, the Strip is down 27% on the game over the last three months and 15% over the last 12.

Downtown Las Vegas ($83.6 million, +1%) and the Las Vegas locals market ($164 million, flat) had average months, whereas other ancillary markets like Boulder, North Las Vegas and Mesquite were all up more than 4%. Downtown and the locals market are still up 3% and 5.5%, respectively, the best of the major markets.

Reno carries northern performance

Reno had a strong month at $64.7 million (+9%), which was enough to boost Washoe County into the black despite monthly declines in all other county sites.

The same is true for the fiscal year to date, as the county is flat with Reno being the only positive contributor at +2%.

Nevada sportsbooks clocked GGR of $42.5 million, a healthy rebound from a dismal March and a 38% increase YoY. Of that, $33.1 million came from mobile betting, up 35% from last year. March Madness tanked basketball betting in the state, but the NBA playoffs have been kinder. GGR from basketball betting increased 51% to $20.9 million in April.

Visitor data mixed

Of all the worries related to how tariffs and trade wars might impact Nevada, the biggest concern has been how tourism and visitation would be affected. According to the Las Vegas Convention and Visitors Authority, Las Vegas saw total visitor volume of 3.3 million in April, down 5%, despite a 14% YoY increase in convention attendance.

Total occupancy was down 1% for the city overall and was flat on the Strip, which is in line with many executives’ comments downplaying fears during first-quarter earnings calls.

Passenger volume at Harry Reid International Airport slipped 3% to 4.7 million. Daily auto traffic across all highways was about 140,000, up 5%.