Nevada Casino Win Reaches $1.3 Billion For September
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Casino gaming continues to climb in Nevada despite trends showing that the overall American economy may be slowing. The Nevada Gaming Control Board reported a total “gaming win” (revenue) of almost $1.3 billion on Monday for the month of September.
That total amounts to a 1.7% increase compared to the same month in 2022, when the state’s casinos reported gaming win of just over $1.2 billion. These strong numbers could continue in the coming months as analysts have predicted a busy season with several major events are on the horizon for Las Vegas.
Table Games On The Rise, Slot Win Dips
Las Vegas Strip properties contributed $741 million to Clark County’s total of just under $1.1 billion. That’s an increase of almost 7% from the $693.1 million in September 2022. However, downtown Las Vegas saw a decline from September of last year. The area’s casinos brought in $68.4 million, a decrease of 7.9% from last year’s $74.2 million.
Overall, table games accounted for $456 million, an increase of 16.6% from September 2022. Slot machine win saw a 5.1% decline to $814.6 million from the same month in 2022, perhaps due to the downtime experienced by MGM Resorts during their recent cyber attack.
This was the 31st consecutive month that the state collected at least $1 billion in gaming revenue. For the state’s fiscal year so far, which runs from July 1 through Sept. 30, 2023, gaming win has climbed 2.9% to $333.4 billion compared to $329.7 billion from the same time period in the previous fiscal year.
‘Fun Economy’ Grows
Las Vegas casinos continue to expand beyond traditional gaming and reap financial rewards well beyond the gambling floor. The Las Vegas Review-Journal notes that the city continues to add more to the “fun economy.”
Major sports teams and events continue to draw in visitors and new residents alike. The Las Vegas Review-Journal says that the city is adding an average of 115 new residents per day.
“A UNLV Economic Development report this month outlined just how big fun has become as a business,” the Review-Journal notes. “The report estimates it makes up $13.7 trillion globally, which would put it at 13.7% of total GDP ($100.7 trillion). This makes the submarket bigger than the clothing industry, auto manufacturing, agriculture and construction.”
Las Vegas remains a leader in this industry and investments in other attractions beyond gambling appear to be paying dividends.
