The vivacious city of Las Vegas continues to draw a steady stream of gamblers from all over the world and shows no signs of slowing down. The Nevada Gaming Control Board (NGCB)’s most recent statistics show record-breaking casino revenues for April 2023, reaffirming the city’s status as a top destination for gamblers.
For Nevada’s casinos, April 2023 was a watershed month as it had the state’s highest gross revenue (GGR) for any April in history. In the NGCB report, a remarkable statewide GGR over $1.15 billion was revealed, making this the 26th month in a row that revenues exceeded the $1 billion threshold. This accomplishment, in particular, beats Nevada’s previous record of 10 straight months of high payouts.
Slot Machines Shine as Table Game Revenue Slumps
With earnings totaling a startling $837.9 million, or an impressive 4.2% increase from the previous year, slot machines emerged as the driving force behind the surge in casino revenue. As opposed to this, table game income in the state recorded a very stable 0.8% reduction from April 2022 to April 2019, reaching $321.8 million.
Nevada’s Sportsbooks Benefit from Increased income
In April, Nevada’s sportsbooks saw a huge increase in income as their earnings rose by 28% to reach $32.4 million. This fruitful conclusion can be linked to the expanding popularity and involvement of sports betting. The overall handle, which is the sum of all bets, rose to a respectable $598 million.
Las Vegas and the Strip Continue Revenue Growth
Despite the fact that the casinos in Clark County narrowly missed collecting $1 billion in April, registering earnings of $994.9 million, the gaming revenue in Las Vegas and the renowned Strip kept growing. The Strip casinos’ revenue increased by more than 5% to $624.7 million, underlining its ongoing attraction as a premier entertainment destination. Casino revenue in Downtown Las Vegas increased significantly by 11% to $74.5 million.
Declining Revenues Outside of Clark County
Outside of Clark County, the gaming industry had some difficulties as game income fell and reached GGR of $131.1 million. This decline serves as a reminder of the intense gaming industry centered in the Las Vegas region.
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