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Nevada Casinos Set New February Gaming Revenue Record

Written By Derek Helling on March 28, 2024
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Hosting the Super Bowl in your premiere city might be a big deal for American football fans in your state. When it comes to the impact of that event’s location on casino gaming, however, data suggest that is inconsequential.

While Nevada casinos set a new high for February taxable revenue in 2024, the growth from the same month in 2023 is in line with past performances. Still, the majority of states took part in that annual increase.

Nevada casinos reached new February summit

According to a press release by the Nevada Gaming Control Board, Nevada’s brick-and-mortar casinos reported over $1.3 billion in gaming revenue for February 2024. As a result, the state stands to collect over $70.4 million in taxes from that gambling.

The total represents an 8.5% increase compared to February 2023 and the best-ever February for Nevada casinos.

Perhaps most poignant in the statewide numbers is that four of the Nevada Gaming Control Board’s five regions for casino gaming saw significant year-over-year increases during February. The lone outlier was Elko County, which still experienced a marginal uptick.

Statewide sports betting revenue contributed to the February record as well. That $47.9 million was up 13.8% from February 2023’s sum. While some of that increase might have been due to Las Vegas hosting Super Bowl LVIII during the month, it’s difficult to say with certainty exactly how much that was the case.

Additionally, as far as gaming revenue in other segments went, there doesn’t seem to have been any significant Super Bowl effect.

February gaming revenue boost was more subpar than super for Nevada

While an 8.5% increase in total taxable gaming revenue across Nevada for February 2024 from February 2023 is a fact, facts need context to be relevant. Historical data shows that improvement is nothing special.

For example, February 2023 saw an 11.5% increase in Nevada casinos’ gaming revenues compared to the prior February. Thus, February 2024’s progress represents more of an organic growth situation than an eye-popping, outlying, short-term boom that promoters of events like the Super Bowl keep falsely promising to host cities.

Clark County wasn’t even the region that experienced the highest year-over-year increase for February 2024 compared to the same month in 2023. That was South Lake Tahoe. The simple reason that events like a Super Bowl don’t produce a spike in Nevada gaming revenue is that Nevada is a constant hotbed for tourism.

In February 2024, the Super Bowl just happened to be the thing that drew people to the state. It could have just as easily been a construction workers’ conference or a Pokémon fan convention. The numbers can’t tell the difference.

Speaking of a difference, Nevada’s casino revenue for the current fiscal year has reached a place where that is significant again.

Significance of Nevada casinos’ fiscal year record hangs by a thread

Taxable revenue from Nevada casinos for the current fiscal year has eclipsed $10.6 billion. That means the state’s gaming industry is on pace to set a new record in terms of revenue for such a period. However, the margin of that difference is still very tentative.

Compared to the first eight months of FY2022-23, that running total is up about 5%, or just teetering on the edge of statistical relevance. Less formidable results in any of the last four months of the term could plunge it back below the threshold.

To solidify a stronger position, Nevada casinos will need more than high-profile events.

Photo by AP Photo/Gregory Bull
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Derek Helling

Derek Helling is the assistant managing editor of PlayUSA. Helling focuses on breaking news, including finance, regulation, and technology in the gaming industry. Helling completed his journalism degree at the University of Iowa and resides in Chicago

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