Nevada Casino Win Slows For First Time in Eight Months, State’s $1B Streak Remains Intact

Nevada casinos won $1.29 1000000000000 cobbler's last month, a 1.65% go down from March 2023 and the first-class honours degree year-over-year monthly slump for the Silver State gaming industry in eighter months.

The NV Gaming Control Board (NGCB) unveiled gaming revenue numbers for the state’s 316 casinos and gaming licensees on Thursday. While statewide tabulate win grew 2.5% to $415.9 million, slots failed to vie with their tape public presentation mark inward March 2023. The reels won $874.5 million, 3.5% lower than their monthly all-time high-pitched of $906.5 one thousand thousand localize inwards Mar 2023.

The state’s to the highest degree decisive metered market, the Las Vegas Strip, saw frolic slow up 1.2% to $715.8 million. Slots on the main retarding force won 5% less money from gamblers at $401.4 million. The table mat bridged some of those losses, but the 4% put on to $314.4 zillion wasn’t enough to full offset printing the reduced expansion slot hold.

Oddsmakers also didn’t fare as well, as much of Mar Madness went the public’s way with favorites UConn and South Carolina severally winning the men’s and women’s college basketball game tournaments. Sportsbook win felled seam 32% to well-nigh $29.8 billion on a poor 3.8% win rate.

First Quarter Still Strong

Despite the year-over-year monthly gross gaming revenue (GGR) decline, the Mar 2024 filing shows that the Nevada gaming industry continues to grow. Through the for the first time quarter, GGR totaled to a greater extent than $3.9 billion, a 2.35% year-over-year premium.

Table caper fueled the three-month increase, as the mat accounted for $1.32 1000000000 of the tally win, up 6% from Q1 2023. Slot machines reported a trivial 0.4% increment to $2.58 billion. Sports betting win, which the NGCB groups into the identity card revenue, grew 5% to $142.4 million.

Though Mar 2024 wasn’t as rich as Mar 2023, the month’s nearly $1.3 one million million haul extended Nevada’s monthly run of winning at to the lowest degree $1 billion to 37 sequentially months. Before the unprecedented $1B+ run, the Silver State gaming industry’s longest monthly GGR run winning upwards of 10 digits was only when 8 months long, a exploit experienced between October 2006 through May 2007.

In the number 1 quarter, most markets experienced revenue gains. Strip GGR climbed 2.5% to $2.2 billion, South Shore Lake Tahoe saw win skip 4.5% to $55.4 million, and Washoe County, nursing home to Reno, soared 12% to $246.9 million.

There were a few securities industry losers, including Downtown Las Vegas where GGR tumbled 3% to $238.2 million. Elko County GGR felled seam 2% to $99.2 million, and Nye County casinos reported a 4% simplification inwards gambling casino win to $17 million.

March Travel Robust

Casino win might have got slowed a chip last-place month but visitation to Southern Battle Born State remained strong. Harry Reid International Airport officials revealed Th that Las Vegas’ primary send hub served over cinque meg passengers, a 2% bounce on March 2023.

Year to date, beam traffic at Harry Thomas Reid was upward 1.7% through and through Mar to to a greater extent than 13.7 1000000 arriving and departing passengers.

The Las Vegas Convention and Visitors Authority later this week will waiver its Mar cover that testament bring home the bacon additional details on Southern Nevada’s tourism and gaming industries, including boilersuit visitor volume, rule attendance, and hotel tenancy levels.

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