Las Vegas Strip Casino Revenue Follows Nationwide Trend, Starts 2024 Slow
Las Vegas Strip casinos inwards Jan 2024 experient their number one monthly revenue slump since June 2023, but Battle Born State casinos elsewhere made upwardly the difference to relieve carry a take in to kick away the unexampled year.
The Sagebrush State Gaming Control Board (NGCB) today reported that Strip casinos won $686.1 million, a 3.8% year-over-year drop.
Table games were to blame, as revenue gaming revenue (GGR) from the matte up drop 15% from Jan 2023. Blackjack, craps, and line roulette all reported double-digit year-over-year losses.
Baccarat was a rare increase, with win from the biz popular with Asiatic players up past 7%. Strip one-armed bandit machines reported a 3% uptick in GGR to $400.7 million, but those gains weren’t sufficiency to bridge deck the tabularise struggles.
The Strip’s Jan GGR falloff followed a trend experient crosswise a great deal of the US. January brick-and-mortar cassino declines were matt-up inward New Jersey, Pennsylvania, New York, Mississippi, Louisiana, Indiana, Michigan, and Maryland, among others.
Along with slots, sports betting was a burnished spot for the Strip last month. Oddsmakers along S. Las Vegas Blvd. won $28.5 million to step-up their take hold by 35% from a yr ago.
January Record
Though the most of import gaming market place inwards the world saw win slow up in January, Reno and locals’ casinos inward Charles Joseph Clark County surrounding Las Vegas and elsewhere in the say managed to propel Nevada’s gaming industry to a January record.
Downtown Las Vegas casinos won nearly 1% more money to $85.7 million. Laughlin GGR climbed 4% to $44.4 million, and Mesquite gaming was upwards 0.5% to $15.8 million.
The equilibrate of Joe Clark County, encompassing rural casinos similar the new opened Durango, saw gambling casino win upsurge nearly 11% to $169.3 million. Stephen Arnold Douglas County win climbed 5% to $18.2 million.
Presumably linked to ameliorate brave out in January, casinos inwards Washoe County, rest home to Reno, grew GGR by 36% to $86.5 million.
When all of the state’s metered gaming markets were added up, Jan 2024 GGR came inwards just now shy of $1.28 billion. That represented a 0.5% premium on Jan 2023 and marks a young high-pitched for the for the first time month of the year.
January 2024 also maintained Nevada’s run of winning at to the lowest degree $1 billion from gamblers. The extend has at present extended to 35 months, with the last-place month that GGR was less than 10 digits coming backwards during the COVID-19 pandemic.
February Forecast
The Strip January cooldown, some securities industry observers believe, could have got been due to some travelers delaying their post-December holiday go plans from January to Feb to be inwards town when the Super Bowl made its debut inward Las Vegas.
Allegiant Stadium, rest home of the NFL Las Vegas Raiders, hosted Super Bowl LVIII on Sunday, Feb. 11.
January 2023 represented a real hard comparison, as the Strip was upward 25.7% over Jan 2022. Furthermore, it would be a safe supposition that after an passing dynamic Nov and December, customers deferred trips from Jan to Feb for the Super Bowl,” explained Michael Lawton, the senior economical analyst at the Silver State Gaming Control Board.
Lawton also cited the fact that the Chinese New Year cut down in Feb this year, which likely further wedged the Strip’s Jan showing.
Harry Thomas Reid International Airport reported reduced passenger numbers inward January. Las Vegas’ primary quill send hub facilitated 4.34 trillion arriving and departing passengers, a nearly 1% decline.
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