Nevada's casinos reap benefits of February 2024

Nevada has had a particularly strong February this year for its casinos, with the Nevada Gaming Control Board confirming that the properties brought in $1.34bn in gaming revenue during the month. This was a significant increase on last year’s results, which inched up 8.5% in 2024.

There have been a number of events that occasioned this boost in monthly results, not least the Super Bowl LVIII which was hosted out of the Silver State this year, as well as the Chinese New Year celebrations which are commemorated by Las Vegas as a way to boost sales and increase commercial revenues.

The gambit has paid off with revenues swelling to one of its biggest gaming revenue tallies. Casinos in The Strip, as the most popular gambling area in the Silver State is referred to, saw a 30.3% increase in their table gaming revenue which hit $419.7m over the period.

Baccarat accounted for another $180.5m and was also in an upswing with 81.9% from last year. Thanks to the Super Bowl, tourism numbers also increased with 3.37m traveling to Las Vegas as a result. The Super Bowl weekend allowed casinos to up the prices to $1,000 a night, and occupancy stayed at 83.9%, or 1.7% higher.

The Strip raked in $800.7m this February, which was another 12.4% increase from February 2023, when the company recorded $712.4m. Meanwhile, Downtown Las Vegas also saw a slight increase from last year’s results, bringing in $76.2m in gaming revenue, or up 2.7% from the results posted in 2023.

Reno and Lake Tahoe, which usually generate less revenue as they attract somewhat quieter gamblers in general, or those who wish to escape the glam of Las Vegas and The Strip, posted $60m, a 10.1% increase from February 2023. All in all, results were robust across the market.

The results were one of the best for Nevada’s 443-odd casinos statewide, and these numbers similarly marked the 36th consecutive month that gaming revenue in the Silver State had exceeded the $1bn threshold, indicating a strong uptake and growing momentum for the gambling industry in the state.

Commenting on this opportunity, Nevada Gaming Control Board Senior Economic Analyst Michael Lawton hailed February 2024 as a "pretty incredible month" to dive into and said that attending rates were boosted by performance by famous artists such as U2, Bruno Mars, Adele, Christina Aguilera, and others.

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