The Nevada Gaming Control Board (NGCB) reported that the total gaming revenue in December 2024 was $1.46 billion, a 2% increase year-over-year.
This growth was primarily due to slot machines, which generated $981.1 million in revenue, up 14.4%.
However, table game revenues significantly declined, dropping 16.5% to $480 million statewide. This reflects weaker performances in major games such as baccarat, craps, and roulette.
Despite this, December still marked the highest monthly gaming revenue in Nevada's history, highlighting the state's continued reliance on strong slot machine performance to offset declines in traditional gaming categories.
The Las Vegas Strip faced a downturn, while slot machines set new records
The Las Vegas Strip, the largest contributor to Nevada's gaming revenue, saw its total gaming revenue decrease by 2.7% to $881.3 million. The main reason for the decline was a 16.0% drop in table gaming revenue to $385.9 million.
However, slot machines on the Las Vegas Strip set a new record, generating $495.4 million in revenue, an increase of 11.1%. This growth highlights a shift in consumer gambling behavior, with slot games increasingly dominating over traditional table games.
Other areas in Clark County also saw a total annual gaming revenue of $13.6 billion, up 0.6%. Downtown Las Vegas also reached a new historical high with gaming revenue of $931.3 million, up 2.4%.
Statewide Performance and Market Trends
In Nevada, slot machines accounted for the majority of the gaming revenue in the fiscal year 2024, generating $10.5 billion, an increase of 2.3%.
In contrast, table games statewide declined by 2.8%, generating $5.1 billion in revenue this fiscal year. This trend indicates a broader shift in player preferences, with slots continuing to take a larger share of Nevada's gaming market.
The fiscal year 2024 saw several regional gaming markets reach new historical highs. This includes Carson Valley with a total gaming revenue of $135.7 million, up 1.2%, and Mesquite with gaming revenue of $189 million, up 3%.
These regional markets continue to grow, providing stability to the volatile economic performance of the Gaza Strip.
Industry Outlook and Regulatory Developments
Nevada's gaming industry continues to move forward in a changing environment, with strong slot revenue helping to offset declines in table game revenue. The decline in high-stakes table games like baccarat may reflect changes in high-roller consumer habits, while the continued growth in slot revenue highlights the increasing appeal of electronic gaming relative to traditional table games.
December's revenue data followed a similar pattern to November 2024, when Nevada's total gaming revenue was $1.32 billion. However, this reflected a 4.21% decline—continuing the trend from the previous month.
Additionally, the Las Vegas Strip's revenue in November was $788.7 million, down 3.91%, continuing a trend of weaker performance compared to previous years.
Sports betting revenue remains highly volatile, with a sharp decline of 57.5% in October 2024, primarily due to poor NFL betting results.
Outlook
Nevada's gaming industry enters 2025 in a mixed state, with record-breaking slot revenue and continuing declines in table game performance. The challenges facing the Las Vegas Strip remain concerning, especially as high-end gaming experiences continue to face pressure.
The next meeting of the Nevada Gaming Control Board is scheduled for early 2025, expected to provide further insights into regulatory changes, tax adjustments, and the evolving market dynamics.
As the industry adapts to changing player preferences, operators will continue to focus on balancing traditional game forms with emerging digital-driven revenue streams.
