Gaming revenues rose significantly in Nevada during the month of November, reaching $1.37 billion, the state Gaming Control Board announced Thursday.
Not only was this a record for November, it was the state’s second-largest month of gambling revenue ever, trailing only the $1.4 billion raised in July. This marks the 33rd consecutive month in which gaming revenue has reached at least $1 billion.
This represents an increase of approximately 12.6% compared to just over $1.2 billion as of November 2022. Overall, gaming continues to rise in the Silver State as total revenue for the fiscal year saw a 4.7% increase.
The upward trend has continued for many other sectors within the Nevada market as well. Here’s a look at some financial statistics.
Strip casinos are seeing significant increases in revenue
In Las Vegas, real estate on the strip witnessed a significant boom compared to November of last year. The region saw revenue of $821 million compared to $670 million in November 2022. That represents an increase of more than 22.6% after the city hosted major events such as the Formula 1 Las Vegas Grand Prix, three Raiders games, and several Golden Knights games. .
The sector’s year-to-date totals are also on the rise, reaching $6.8 billion so far, up 4.7% from $6.3 billion over the same period in 2022. Downtown Las Vegas, however, hasn’t been as lucky — revenues are down The amount of $81.1 million is 1.9% of the November 2022 total of $82.7 million.
Despite declines in most parts of Clark County, sector totals contributed to an overall increase in the region. Clark County casino properties reported revenue of $1.37 billion for November, compared to $1.2 billion in the same month of 2022.
Reno was another bright spot for the state in November, especially compared to nearby Lake Tahoe properties. The city saw revenues of $58 million, an increase of 3.5% from last November’s revenues of $56 million. North Lake Tahoe saw a decline of 8.2% to $1.6 million from $1.8 million in 2022. South Lake Tahoe also fell 8% to $18.1 million from $19.7 million in November 2022.
The November numbers generated $85.4 million in fees for the state through December 2023. That’s a 9.5% increase ($7.4 million) compared to the December 2022 total of nearly $78 million.
