In August, Nevada casinos recorded a remarkable $1.23 billion in gaming revenue, reflecting a 5.5% increase from the previous year and achieving the state’s 54th consecutive month surpassing the $1 billion mark, as per data from the Nevada Gaming Control Board (NGCB).

This growth was primarily fueled by exceptional baccarat performance and a surge in mobile sports betting, despite some declines in specific slot categories. Table and card games saw a 12.6% increase, totaling $411.8 million, with baccarat alone rising by 52.6% to $116.5 million. Meanwhile, sports betting revenue skyrocketed by 68.1% to $42 million, with mobile bets nearly doubling to $29.4 million, now making up 73% of total wagers. Football betting contributed $16.3 million, representing an 85.9% rise, coinciding with the return of college and NFL preseason games.

Clark County, home to the Las Vegas Strip, reported $1.03 billion in gaming revenue, marking a 5.3% increase. Strip revenue climbed 2% to $652.1 million, bolstered by baccarat and a significant 14.2% growth in multi-denomination slot revenue. However, penny slot play suffered a notable decline, dropping 31.2% to $93.1 million.

Initially, Deutsche Bank projected a 1.3% decline in Strip gaming revenues for August, not accounting for the impact of Hurricane Hilary, which led to the cancellation of numerous flights later in the month, as noted by analyst Carlo Santarelli.

Downtown Las Vegas saw an 8.3% rise in revenue to $63.2 million, while North Las Vegas experienced a 7.8% increase to $24.7 million. In contrast, Laughlin’s revenue dipped by 7.1% to $41 million, and the Boulder Strip experienced a slight decline of 1.1% to $84.8 million.

Tourism in Las Vegas showed remarkable resilience, attracting 3.3 million visitors in August, a 4% increase compared to last year, while convention attendance surged by 64% attributed to a major furniture expo. Overall hotel occupancy reached 80.3%, with Caesars Entertainment anticipating occupancy rates of 96% to 97% over the next three months, and MGM Resorts reporting that 90% of its Formula One tickets have been sold.

Regional casino markets exhibited mixed results, with Reno casinos increasing by 9.9% to $76.1 million, while South Lake Tahoe surged 21.5%. Conversely, North Lake Tahoe experienced a 15% decline. Mesquite saw a 9.9% increase and Carson Valley gained 8.9%, while Elko County faced a slight downturn of 0.8%.

Harry Reid International Airport accommodated 4.6 million passengers in August, a minor decrease compared to last year, with domestic flights falling by 1.2%. Nonetheless, international travel saw a robust 16% rise, totaling 284,000 passengers.

Analysts highlighted that casinos benefited from the additional Sunday in August as well as improved hold rates. NGCB analyst Shelley Newell remarked: “Labor Day Weekend is always beneficial for licensees, along with all three-day holiday weekends.”