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Home > Blog > Casino & Games > Nevada casino revenue declines 6.9% in July due to sharp drop in table game winnings
Casino & Games

Nevada casino revenue declines 6.9% in July due to sharp drop in table game winnings

Dawson Bennett
Last updated: September 18, 2024 2:09 pm
Dawson Bennett
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Nevada’s total gaming revenue for July 2024 stood at $1.31 billion, marking a 6.9% decrease from the same period last year. This decline was largely driven by a significant drop in revenue from table games, which fell by 23.5% to $392.7 million[5).

Contents
Table games: a tale of two fortunesSlot machines: a bright spot amidst declinesRegional performance and tax collectionsChallenges and investigations

Table games: a tale of two fortunes

Table game winnings were heavily impacted by a sharp decline in baccarat revenue. Baccarat, a major contributor to table game revenue, saw a 61.9% drop in winnings, totaling $73.6 million. The win rate for baccarat also fell to 9.7%.

However, not all table games suffered. Blackjack and craps experienced increases of 7.6% and 7.2%, respectively. Blackjack generated $117 million, while craps contributed $43.2 million.

Slot machines: a bright spot amidst declines

In contrast to the decline in table games, slot machine revenue increased by 2.6%, reaching $914.1 million. Multidenominational slots, which represent a substantial portion of the market, saw a revenue increase of 22.7%, amounting to $630 million.

However, other categories of slot machines did not fare as well. Penny slot revenue decreased by 26.6%, and the number of penny slot machines in operation dropped by 16.7%. Dollar slots also experienced a decline, with revenue down 12.7%.

Regional performance and tax collections

The Las Vegas Strip, a key driver of Nevada’s gaming industry, reported a 15% decline in gaming revenue, contributing significantly to the overall decrease in statewide revenue. In contrast, downtown Las Vegas reported a 10% increase in gaming revenue, totaling $71.8 million.

The state collected $95.9 million in percentage fees based on taxable revenue in July, reflecting a slight decrease of 0.2% from the previous year.

Challenges and investigations

This report comes amidst ongoing investigations by the Nevada Gaming Control Board, which has filed a complaint against Resorts World Las Vegas and its parent company, Genting Berhad, for allegedly allowing individuals with ties to illegal activities into their establishments. This adds to the complexities facing Nevada’s gaming industry as it navigates a period of economic uncertainty and regulatory scrutiny.

Category July 2024 Revenue Year-over-Year Change
Total Gaming Revenue $1.31 billion -6.9%
Table Games $392.7 million -23.5%
Baccarat $73.6 million -61.9%
Blackjack $117 million +7.6%
Craps $43.2 million +7.2%
Slot Machines $914.1 million +2.6%
Multidenominational Slots $630 million +22.7%
Penny Slots -26.6% -16.7% (number of machines)
Dollar Slots -12.7% -16.1% (number of machines)
Las Vegas Strip -15%
Downtown Las Vegas +10%
  • Key Points: Total gaming revenue: $1.31 billion, down 6.9% year-over-year.Table games revenue: $392.7 million, down 23.5%.Baccarat revenue: $73.6 million, down 61.9%.Blackjack revenue: $117 million, up 7.6%.Craps revenue: $43.2 million, up 7.2%.Slot machine revenue: $914.1 million, up 2.6%.Multidenominational slots revenue: $630 million, up 22.7%.Penny slots revenue: down 26.6%, with a 16.7% decrease in the number of machines.Dollar slots revenue: down 12.7%, with a 16.1% decrease in the number of machines.Las Vegas Strip revenue: down 15%.Downtown Las Vegas revenue: up 10%.;

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By Dawson Bennett
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Dawson Bennett is a seasoned journalist with over a decade of experience covering the casino and sports industries. His extensive knowledge of these sectors makes him a trusted expert for readers seeking advice and insights. Whether you're looking for the latest developments in the sports or gambling world, Dawson provides valuable guidance to help you make informed decisions. He offers tips on selecting high-quality casinos and stays on top of trends and events in the sports industry, ensuring you have the best possible experience.
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