Nevada Extends $1 Billion Gaming Win Streak to 67 Months

Nevada casinos generated $1.282 billion in gaming win during September, down just 0.05% year on year. Stronger slot results helped offset weaker table games, extending the run above $1 billion to 67 consecutive months.

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Good to know

• Statewide slot win rose 1.3% to $948.9 million, while table-game win fell 3.6%.
• Las Vegas hotel room rates declined despite a small increase in visitors.
• The Strip generated $693.5 million, but downtown Las Vegas and Laughlin recorded declines.

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The nearly flat statewide result remained 21.2% above September 2019. Casinos generated almost $3.94 billion during July–September, providing a stronger quarterly picture than the September comparison alone.

Slots Do More of the Work as Table Wagering Falls

Customers wagered $12.8 billion through Nevada slot machines, up 3.1% from a year earlier. Table-game wagering went in the opposite direction, falling 3.8% to $2.8 billion.

Results varied sharply within those categories. Multi-denomination machines generated $777.4 million in win, up 7.6%, while penny-slot win dropped 21.4% to $113.9 million.

Shelley Newell, senior economic analyst with the Nevada Gaming Control Board, explained that casinos have increasingly replaced single-denomination, single-game machines with devices offering multiple denominations and games.

At the tables, craps win fell 25.1% to $32.6 million and blackjack declined 6.3% to $94 million. Roulette increased 20.3% to $33.6 million.

Baccarat also improved, producing $58.6 million, up 11.5%, despite customers wagering 4.1% less. Casinos retained 9.74% of baccarat wagers, compared with 8.37% a year earlier. That higher hold helped lift revenue without an increase in betting volume.

Across all table games, win fell to $333.7 million.

More Las Vegas Visitors Did Not Lift Hotel Performance

Nearly 3.1 million people visited Las Vegas in September, an increase of 0.2%, according to the Las Vegas Convention and Visitors Authority. Convention attendance rose 1.8%.

Kevin Bagger, Vice President of the LVCVA Research Center, credited the “Continued resilience of the convention segment” with supporting visitation despite changes in show schedules and the event mix.

Hotels nevertheless recorded weaker results. Occupancy slipped 0.5 percentage points to 78.1%, while the average daily room rate fell 6.3% to $178.63. Revenue per available room declined about 7% to $139.51.

Total visitation reached 28.8 million through September 30.

Citizens analyst Jordan Bender also questioned the strength of recent casino trends. He described Strip gaming win as “slightly below our expectations.”

“The underperformance stemmed from mass table revenue declining 5% year-over-year, despite an easy comparison in the prior year, following a 19% decline in August,” he wrote.

Bender said discussions at Global Gaming Expo and the Boyd Gaming earnings call pointed to softer August and September conditions across the Las Vegas Valley. He suggested the stronger summer performance may have been temporary.

Regional Gains Leave Nevada Almost Flat Overall

The Las Vegas Strip increased gaming win by approximately 0.8% to $693.5 million. However, Clark County slipped less than 1% to $1.09 billion as other markets weakened.

Downtown Las Vegas fell 7.5% to approximately $82.5 million, while Laughlin dropped 16.8% to $33.8 million. North Las Vegas grew 9.2% to $25.1 million, and the Boulder Strip remained nearly flat at $83.2 million.

Elsewhere, Sparks increased approximately 21% to $17.2 million, helping Washoe County post a 0.4% gain to $101 million despite a 3.5% decline in Reno to $73 million.

Elko County grew 11.7% to $35.2 million, and South Lake Tahoe increased 12.5% to $26.5 million. Mesquite declined 1.35% to $15.2 million.

Statewide taxable gaming revenue fell 1.5% to $1.264 billion. Nevada collected $81.1 million in percentage fees through October 20 on September revenue, down 6.8%. Fiscal-year collections totaled $337.9 million, a 2.7% decline.

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