Despite facing challenges such as a decline in revenue on the Las Vegas Strip, Nevada's overall gaming win surpassed previous records for January, setting the stage for a potentially robust year ahead.
According to data released by the Nevada Gaming Control Board, all regulated gambling activities in the state's licensed casinos generated over $1.2bn in gaming win for January. This figure represents a marginal increase compared to January 2023 and marks the highest total ever recorded for the month.
The state-wide gaming win encompasses revenue from various sources, including in-person betting on slots, table games, sports betting (both in-person and online), online poker and horserace wagering.
Notably, growth was observed in gaming win from Washoe County, particularly in Reno, where there was a year-over-year improvement of 55%.
Sportsbooks across Nevada also reported strong performance in January, with total winnings exceeding $64.7m. This marked the largest sum for January in the past seven years and contributed significantly to the overall revenue gains for the month.
However, despite the positive trends in gaming win, the Las Vegas Strip experienced a 3.8% year-over-year decline in casino revenue, primarily attributed to a drop in table game earnings. Nevertheless, other regions in Nevada, including downtown Las Vegas, Laughlin, Mesquite and rural areas, saw revenue increases, helping to offset the Strip's losses.
The January revenue record follows Nevada's strong performance in 2023, where the state achieved a record-high gaming revenue of $15.5bn for the fiscal year.
