Nevada casinos saw record-setting action from gamblers for the fourth year in a row.
On Thursday, the Nevada Gaming Control Board (NGCB) released its revenue report for December and the full year 2024. The state’s casinos and licensed gaming facilities finished the year strong, with December bringing in nearly $1.5 billion. This month also ended a two-month year-over-year losing streak.
The $1.46 billion in December gross gaming revenue (GGR) marked a 2% year-over-year increase. December’s performance helped push the statewide annual win to over $15.6 billion, a 0.5% improvement from 2023.
2024 marked the fourth consecutive year that Nevada casinos achieved a new annual gaming revenue high. Unlike in 2023, markets off the Las Vegas Strip primarily drove this year’s continued gains.
“Excluding the Strip from this year’s totals, statewide total win increased 2.6 percent, or $173.2 million,” said Michael Lawton, the NGCB’s senior economic analyst. “During calendar year 2023, the Strip accounted for 90.2% of the $678.4 million growth over calendar year 2022. Although the Strip was unable to grow off of 2023’s baccarat-driven record total, the market only decreased 1%, or $88.5 million, and set new records for slot win and volume,” Lawton added.
Slots Save 2024
Nevada slot machines accounted for $10.5 billion of the state’s $15.6 billion GGR haul in 2024, with revenue from the slots expanding by about 2.3%.
However, table game revenue painted a different picture, sliding almost 3% to just under $5.1 billion. Baccarat was a significant factor, with the game, popular among Asian and high-roller European players, seeing a win contraction of over 13% to $1.4 billion. A toned-down F1 Las Vegas Grand Prix in November didn’t help either.
Roulette win also declined by about 4% to $440 million. Craps followed suit, with a win of $450.7 million, a 3.6% reduction.
On a positive note, blackjack revenue climbed 1% to $1.3 billion. Ultimate Texas Hold’em also saw a bright spot, with revenue increasing 10% to $207.5 million compared to 2023.
Nevada Cities Experience Record Play
While the Las Vegas Strip experienced a slight setback in terms of GGR in 2024, several other metered markets reported record play. The NGCB filing shows that in addition to the state as a whole, Clark County, downtown Las Vegas, Mesquite, and Carson Valley each set all-time GGR highs.
Clark County, home to Las Vegas, reported GGR of over $13.56 billion, a 0.6% gain on 2023. Downtown Las Vegas revenue climbed over 2% to a record $931.26 million, while GGR in Mesquite increased 3% to an all-time high of $189 million. Carson Valley casinos improved annual win by 1.2% to nearly $135.8 million.
Football Betting Winning Streak Punted
December 2024 was notable for oddsmakers, as it marked the industry’s first losing month on football in over a decade. The NGCB reveals that oddsmakers lost more than $2 million on football, with many NFL and college games going the public’s way.
December marked the first time that Nevada oddsmakers incurred a monthly loss on football since November 2012, ending a streak of 145 months with the house coming out on top. Despite the losses, Nevada sports betting revenue remained positive, with oddsmakers winning about $15 million.
With favorites predominating during the NFL Playoffs, January could also be a challenging month for the books.
