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:
- LV Strip: 4.84%
- Downtown: 1.99%
- North Las Vegas: 1.50%
- Reno: -0.44%
- North Lake Tahoe: -7.13%
- Carson Valley area: -2.45%
For the first six months of 2023, statewide gaming revenue is up 3.6% compared to last year’s $14.8 billion.
