Nevada sees record $1.37bn in November gambling revenue, fuelled by F1 Grand Prix
This surge represents the highest November revenue on record, attributing much of its success to the inaugural Formula 1 Las Vegas Grand Prix, held from 16-18 November.
Nevada’s gaming industry has marked a historic high in November 2023. The Nevada Gaming Control Board’s latest report showcased that state-wide, across all nonrestricted locations, the total gaming win amounted to $1.37bn, marking a 12.56% increase from the previous year.
Over the three months leading up to November, the gaming revenue reached $3.96bn, a 5.56% increase, while the 12-month period ending in November saw a 4.93% surge to $15.4bn.
Breaking down the revenue figures across various regions, Clark County experienced gains, with revenue from venues in the $1m and over revenue range reaching $1.2bn, marking a 14.43% increase in November.
The total gaming win for the month across all nonrestricted locations in Clark County stood at $1.2bn, reflecting a 14.34% increase.
The success was not solely confined to large revenue brackets. The Carson Valley Area, with its nonrestricted locations, saw a win amount of $11.1m, marking a 9.21% increase in November. However, over a three-month and 12-month period, the area faced minor fluctuations and declines in gaming revenue.
The success in November can be attributed primarily to the Formula 1 event hosted at The Venetian Resort Las Vegas. This event attracted celebrity investors like Travis Kelce and Patrick Mahomes, creating a buzz around the BWT Alpine F1 Race Team. The Venetian’s strategic location along the Strip allowed it to oversee a significant portion of the racecourse.
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