The Nevada Gaming Control Board (NGCB) has released its latest monthly revenue report revealing that the state’s casinos reported the highest revenue total ever recorded in the month of January.
According to the report, the state’s gambling operators generated combined revenues of $1.27 billion during January. This marks an 18% increase from January 2022 and the 23rd month in a row that NV casinos have collected more than a $1 billion in revenues.
Revenues on the Strip came to $713.2 million, a 25.7% increase from January 2022.
Casinos on the Strip also accounted for the majority of January’s increase in revenues as Clark County’s revenue total of almost $1.13 billion marked a 21.6% increase from the same period in 2022. Meanwhile, combined markets outside of the Strip saw an increase in gaming revenue of 9.4% in January.
Downtown Las Vegas and other locals markets combined to generate $273.1 million in gaming revenue. This was just short of the all-time record of $277.7 million which was set in March of 2022. However, January’s figure was a 15.2% increase on last year’s total.
Strip casinos reported that baccarat wagering increased by 21.1% to $873.1 million resulting in revenues of $89.9 million. This was a 38.7% increase year-on-year. Slot machine revenues on the Strip increased by 24.1% year-on-year to $388.6 million. This was from $4.5 billion in wagers, up 24.6% compared to January 2022.
Sports betting revenues on the up
Nevada’s sportsbooks generated combined revenues of $50.4 million, an increase of 1% from a January 2022. This was despite total wagers dropping by 15.6% to $936.5 million.
Nevada sports betting operators reported a hold of 5.4% of all wagers, compared with 4.5% in the same period in 2022. According to the report, mobile sports betting accounted for 62.1% of all wagers in January.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.