Nevada gaming had best year ever in FY24; June sees year-over-year growth of 3%
Nevada operators posted gross gaming revenue (GGR) of $1.28bn in June and $15.76bn for FY24. The latter figure represents the best fiscal-year result ever for the Silver State, trumping FY23’s record of $15.1bn. Since reopening from Covid lockdowns in June 2020, the state’s gaming industry has set new records in virtually every metric.
FY24 was the third consecutive record-setting year for Nevada gaming. Several other full-year records were set, including:
- Las Vegas Strip revenue ($9.1bn)
- Las Vegas locals market revenue ($3.1bn)
- Statewide slot win ($10.3bn)
- Statewide slot coin win ($144.5bn)
- Statewide table and card game win ($5.4bn)
- Statewide games drop ($36bn)
- Statewide sports pool win ($512.8m)
Of the markets tallied by the NGCB, the Las Vegas locals market had the biggest GGR increase in FY24, at 7.4%. The Strip was second at 6% and overall Clark County saw a bump of just under 5%. The biggest laggard was South Lake Tahoe (-2.23%) followed by North Las Vegas (-1.87%).
Southern Nevada posts strong June, north lags
Last month, the northern and southern markets showed starkly different results.
The Las Vegas locals market had a great June – its GGR of $147m was a year-over-year increase of just under 10%. Downtown Las Vegas (5.8%), the Strip (4.3%) and Mesquite (3.5%) all posted marked year-over-year increases as well. Laughlin and North Las Vegas were the only southern markets with decreases, but both were under 2%.
To the north, Washoe County as a whole (-7.6%) took a beating. Sparks took a 12.8% dive with GGR of $13.4m and Reno logged $64.2m, a 7% decline. North and South Lake Tahoe saw declines of 3% and 12.6%, respectively. The Carson Valley area also experienced a 5% slide.
Elko County was easily the best-performing northern sector. Its GGR of $33m was good for a 6.5% increase, top in the area.
State slots steady, sports betting booms
From a statewide perspective, slot win was relatively flat (-1.5%) in June. But perhaps the most notable sector was sports betting.
Nevada sportsbooks took in $29.8m for the month, a year-over-year jump of 212%. Two big international soccer tournaments – the UEFA Euros and CONMEBOL Copa America – likely aided this jump. Mobile sports betting clocked GGR of $16.7m, a 244% increase over the same period last year.