Nevada Hits 28 Months Of $1 Billion In Gaming Revenue

Although Nevada casino revenue experienced another dip in June, the industry still surpassed $1 billion in revenue for the month.

According to recent data from the Nevada Gaming Control Board (NGCB), casinos posted nearly $1.25 billion in June revenue. However, that’s down 2.4% compared to June 2022, when casino gaming collected about $1.28 billion.

Nevada revenue is down slightly month-to-month

Even though Nevada casinos have recorded year-over-year revenue declines in three out of the last four months, June’s $1.25 billion gives Nevada 28 consecutive months of at least $1 billion in revenue.

As a result, Nevada collected $78.6 million in state taxes in June, representing a 1.45% increase compared to the year prior.

Although total revenue is still down from May, when operators collected $1.3 billion in revenue, it is better than April’s $1.20 billion.

While casino gaming might be improving, sports betting has seen better days.

Nevada sportsbooks collected $9.5 million in revenue for the month, down 60.1% compared to a year ago. Sports betting operators held less than 2% of all wagers compared to nearly 4.9% in June 2022.

Fiscal year figures looking strong

As mentioned, June’s $1.25 billion was down 2.44% compared to the $1.27 billion in June 2022.

For the fiscal year — July 1, 2022, through June 30, 2023 — gaming revenue has increased 3.25% to $15.1 billion.

Clark County Las Vegas Strip Area reported a year-over-year increase of 4.84%, going from $12.6 billion in FY2022 to $13.1 billion in FY2023. For June, casino revenue stood at $727.3 million, a 1% decline from 2022.

Clark County Downtown Las Vegas revenue also climbed year-over-year by 1.99%, going from $880 million in FY2022 to $898 million in FY2023.

Outside of Clark County, Elko County experienced a significant year-over-year boost going from over $383 million to just shy of $400 million ($398 million). Similarly, Washoe County grew gaming revenue by 10% in June to $94.2 million.

Some FY2023 percent changes by area: