Nevada GGR Tops $1 Billion Again

Gambling revenue in Nevada just keeps on giving.

That’s certainly the findings of the most recent figures for the state which show that revenue from the industry increased 11 per cent in February year-on-year. The total for the month was $1.24 billion.

To the extent that the gambling operator sector in Nevada is regularly bringing in $1 billion in gross gaming revenue (GGR) every month. And that’s been the case for the last 24 months in a row.

Michael Lawton, senior economic analyst for Nevada Gaming Board of Control, said there was a possibility the Strip, with it is 217 casinos, could hit the $1 billion mark on its own.

“Clark County has recorded more than $1 billion in 10 consecutive months and in 17 out of the last 24 months,” he said. “The Strip in December of 2022 recorded a win amount of $814.2 million which was the all-time record for the market. I think there is interest if the Strip on its own could hit the billion-dollar amount.”

The biggest income stream in February was, of course, The Las Vegas Strip (Clark County) where revenue totals were 19 per cent up on the same period last year. The total revenue from the Strip for February this year was $712.5 million. Of that figure, by far the biggest earner was the slots. They pulled in $390.4. The Tables were 23 per cent up on the February last year, bringing in a respectable revenue figure of $322 million. The star here was Baccarat with a 60 per cent increase on February 2022 and a total revenue of $99 million. No other table game brought in more for the month.

But the success story wasn’t shared throughout the state. Carson Valley, Reno, Washoe County and South Lake Tahoe all reported losses. Carson Valley saw its revenue fall 12 per cent compared to the previous February, Reno dropped 10 per cent and gambling revenue in Washoe County fell eight per cent. Operators in South Lake Tahoe were down almost four per cent.

The reason for the decline, according to Lawton, was undoubtedly the poor weather conditions.

“Weather absolutely impacted the Northern Nevada results in February,” he said. “Storm timing impacted nearly every weekend of the month.”

Meanwhile, sports betting was also on the ‘up.’ February’s revenue figure for the sector was $41.3 million. That’s a jump of 33 per cent on February 2022.