Nevada Casinos Break Annual Revenue Record with $15.5 Billion in 2023

Posted on: January 31, 2024, 01:27h. 

Last updated on: January 31, 2024, 01:27h.

Nevada casinos are coming off their most successful year ever.

Nevada casinos Las Vegas gaming revenue
The opening of the Fontainebleau on the Las Vegas Strip was cited for a record December for Nevada casinos. The state gaming industry won an all-time high of $15.5 billion from gamblers in 2023. (Image: Fontainebleau Las Vegas)

The Nevada Gaming Control Board recently announced that gross gaming revenue (GGR) for 2023 totaled over $15.52 billion, marking a 4.6% increase from 2022.

The rise in revenue follows a pattern of consistent growth, as 2023 became the third consecutive year of a new GGR high for the state.

Slot machines accounted for nearly $10.3 billion in revenue, while table games and sports betting brought in over $5.2 billion. Slot revenue increased 2.3% from the previous year, while table games and sports betting saw a substantial 8% surge.

Michael Lawton, a senior economic analyst for the Nevada Gaming Control Board, noted several factors contributing to the record gaming win, including special events and consistent demand from customers, despite challenges such as inflation and rising interest rates.

“Nevada has continued to benefit from the surging demand for leisure travel domestically and internationally,” Lawton added.

Nevada remains the leading gaming state in the US, with $15.5 billion in revenue, overshadowing New Jersey at $5.8 billion and Pennsylvania at $5.7 billion.

December Delivers

December 2023 saw GGR soar to $1.43 billion, marking a 9% increase from the previous year and resulting in the best December ever for the Nevada gaming industry.

The opening of two new casinos and events like the National Finals Rodeo and performances by esteemed artists contributed to the exceptional December revenue.

The Las Vegas Raiders also hosted two sold-out games at the Allegiant Stadium, further boosting December’s revenue.

2023 Records

Several markets in the Gaming Control Board’s report revealed record revenue, including GGR in Clark County, which hit a record $13.48 billion, Las Vegas Strip casinos, and various other gaming regions in the state.

Table game and sportsbook win on the Strip surged 15.5% to more than $4 billion, while slot revenue achieved a 5% growth. Reno, however, experienced a 1% decline in GGR due to inflationary concerns among locals.

Overall, 2023 was a landmark year for Nevada’s gaming industry, demonstrating its resilience and ability to consistently attract patrons amidst various challenges.

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