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After a few years of record growth, the Nevada gaming industry saw a small setback in March, a drop in revenue compared to the same month in 2023. The state’s casinos reported revenue of $1.29 billion, sliding 1.65% from $1.31 billion in March 2023, according to figures released by the Nevada Gaming Control Board.
Much of that decline was felt statewide and especially in Clark County, which includes Las Vegas. Despite the monthly decline, fiscal year revenue (July 1, 2023 through March 31, 2024) remains up by 4.4% to $11.9 billion.
Las Vegas Revenue Drops
An overall slot revenue decrease of 3.5% to $874.5 million contributed to the statewide decline. Table games revenue actually increased 2.5% to $415.9 million.
Sin City remains the key driver of gaming revenue in Nevada. March produced some key declines in Clark County, including a decrease of 1.2% to $715.9 million on the Vegas Strip. While Strip table game revenue increased 4% to $314.4 million compared to March 2023, slot revenue dropped almost 5% to $401.4 million.
Downtown Las Vegas saw a major decline of 12.9% to $76.2 million. That included double-digit declines in both slot and table game revenue. Slot revenue dropped 12.8% to $50.1 million and table game revenue fell 13.1% to $26 million.
Other areas of Clark County also declined including: the Boulder Strip, -9.3% to $78.3 million; North Las Vegas, -4.2% to $25.7 million; and Laughlin, -1.7% to $49.5 million.
Additional key gaming areas around the state also saw revenue declines including a 6% slide in Reno to $52 million. South Lake Tahoe saw a dip of 5.5% to $15.9 million.
The state has a chance to bounce back over the next few months as the busy summer travel season gets underway. In related, the state of New Jersey saw an increase in live casino gaming revenue after a few months of declines.