Nevada’s gaming industry set a new revenue record in 2024, reaching $15.6 billion, despite a 1% decline on the Las Vegas Strip, marking one of the rare instances where state and Strip revenue trends diverged.
The Nevada Gaming Control Board (NGCB) reported that growth was driven by casinos in downtown Las Vegas, Reno, and unincorporated Clark County, which saw higher revenues, offsetting the Strip’s slump.
While Strip casino revenue fell to $8.8 billion, the balance of Clark County—which includes casinos outside of Las Vegas and North Las Vegas—rose 10.6% to $1.9 billion, making it the second-largest contributor to the state’s total.
Downtown Las Vegas recorded a 2.4% increase, reaching $931.2 million, marking its fourth consecutive record-breaking year. Reno also saw gains, with revenue rising 3% to $758.8 million.
A sharp decline in baccarat revenue on the Strip, down nearly 7% to $1.4 billion, weighed on overall figures. In contrast, slot machine revenue grew 2.1% to $4.9 billion, reflecting the sustained strength of the vertical. Statewide, slot machines generated $10.5 billion, a 2.3% increase, while table game revenue declined 2.8% to $5.1 billion.
The year ended with record-breaking December revenue of $1.46 billion, up 2% year-over-year. However, Strip casino revenue dropped 2.7% to $881.2 million, marking its sixth consecutive monthly decline. Baccarat continued its downward trajectory, falling nearly 10% in December, further contributing to the Strip’s weaker performance.
Las Vegas drew 41.7 million visitors in 2024, up 2.1% from the previous year, according to the Las Vegas Convention and Visitors Authority (LVCVA).
Harry Reid International Airport also set a record, handling 58.4 million passengers, a 1.4% increase from 2023. LVCVA Vice President of Research Kevin Bagger credited gains in hotel occupancy, convention attendance, and average room rates as key factors in tourism growth.
Despite the strong annual performance, gaming revenue growth slowed in the second half of 2024, with a 2% decline compared to the 3% increase in the first six months of the year.
Analysts are cautious about 2025, with JMP Securities gaming analyst Jordan Bender predicting a 3% decline in Strip gaming revenue in the first quarter, largely due to the absence of a major betting boost from Super Bowl LVIII, which was hosted in Las Vegas in 2024.
Sports betting volatility was also a concern, as Nevada oddsmakers lost $2 million on football bets in December, marking their first losing month on football in over a decade.
Michael Lawton, senior economic analyst at the NGCB, pointed to strong consumer demand, record employment, and population growth as key drivers of Nevada’s continued success.
“Nevada continued to benefit from consumer’s desire for leisure travel domestically and internationally,” Lawton said. “Furthermore, Nevada’s healthy local economy is experiencing record employment levels and population growth that includes higher-income earners.”
However, he noted that, unlike in 2023, the Las Vegas Strip was not the primary driver of the state’s record gaming revenue.
Original article: https://www.yogonet.com/international/news/2025/01/31/93628-nevada-gaming-revenue-hits-record-156-billion-in-2024-but-las-vegas-strip-win-declines
