In March, Nevada gaming companies reported a slight drop in revenue from the previous year. Casinos on the Las Vegas Strip have also seen a small decline.
According to the Nevada Gaming Control Board (NGCB), statewide gaming revenue fell 1.65% compared to the previous year, totaling $1.29 billion.
However, for the fiscal year, (from July 1, 2023 to March 31, 2024) revenue in the Silver State improved by 4.44% compared to the previous year, reaching 11.9 billion dollars.
Nevada casino performance
On the Las Vegas Strip, casino operations decreased 1.2% year over year during March, totaling $715.9 million. But for the fiscal year, there was an increase of 6.51% compared to the previous year, totaling US$6.89 billion.
The NGCB noted that slot machine and sports betting revenues have declined. In any case, improvements were observed in the table and card games segment.
Slot machine revenue during the month fell 3.53% compared to the previous year, totaling $874.5 million. Multi-denomination and penny slots generated $573.7 million and $220.3 million in revenue, respectively.
Revenues from table and card games increased 2.54% compared to the previous year, totaling US$415.9 million. Blackjack and baccarat revenues were $108.8 million and $114.7 million, respectively.
But sports betting revenue fell 32.13% compared to the same period last year, accounting for $29.8 million.
Therefore, the state collected US$86.5 million in taxes in the month. The drop was 11.22% compared to the same period of the previous year.