Nevada's total gaming revenue for July 2024 amounted to $1.31bn, marking a 6.9% decrease year-on-year. The decline was primarily driven by a significant drop in revenue from table games, which fell by 23.5%.
Table game winnings in July totalled $392.7m. Baccarat, a major contributor to table game revenue, saw a sharp 61.9% decline in winnings, totalling $73.6m.
The win rate for baccarat dropped to 9.7%. Despite these losses, blackjack and craps experienced increases of 7.6% and 7.2%, respectively, with blackjack generating $117m and craps contributing $43.2m.
In contrast, slot machine revenue increased by 2.6%, reaching $914.1m. Multidenominational slots, which represent a substantial portion of the market, saw a revenue increase of 22.7%, amounting to $630m.
However, other categories of slot machines, such as penny slots and dollar slots, experienced declines. Penny slot revenue decreased by 26.6% and the number of penny slot machines in operation dropped by 16.7%.
The state collected $95.9m in percentage fees based on taxable revenue in July, reflecting a slight decrease of 0.2%.
The Las Vegas Strip, a key driver of Nevada's gaming industry, reported a 15% decline in gaming revenue, which contributed significantly to the overall decrease in statewide revenue. In contrast, downtown Las Vegas reported a 10% increase in gaming revenue, totalling $71.8m.
This report comes shortly after the Nevada Gaming Control Board filed a complaint against Resorts World Las Vegas and its parent company, Genting Berhad, for allegedly allowing individuals with ties to illegal activities into their establishments.
This ongoing investigation adds to the complexities facing Nevada's gaming industry as it navigates a period of economic uncertainty and regulatory scrutiny.
