Nevada Casinos Set All-Time Record With $1.4B In July Revenue
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The Nevada Gaming Control Board reported an all-time record total casino revenue of just over $1.4 billion for the month of July, fueled by substantial year-over-year increases in multi-denominational slot play and baccarat.
The Las Vegas Strip also set its own all-time monthly high in revenue at $834.9 million, with slot revenue accounting for just over half that amount at $420.4 million. July’s figure is nearly 8% higher compared to July 2022, and the $8.6 billion in revenue over the last 12 months is an increase of 5.8% versus the previous 12-month span.
Slot revenue statewide totaled $890.8 million in July, up 6.1% year-over-year, while the $513.1 million in table games winnings was a 7.1% bump. The $193.3 million in baccarat revenue represented an increase of 40%, with the percentage increase trailing only the 55.7% rise in year-over-year sports wagering revenue among gaming disciplines that generated at least $10 million in revenue.
$100 slots up, penny slots down
The $513.3 million in multi-denominational slot play was an increase of 18.8% over last year, and the 84 slot machines that accept $100 wagers saw a 50.6% increase to $3.2 million.
Penny slots was the largest single-value slot revenue generator at more than $275.2 million, but that was down 6.4% versus July 2022. Nickel slots were the only other denomination to post a year-over-year improvement, increasing 5.3% to $3.8 million.
The $10.3 billion in slot revenue over the past 12 months is a 4.9% improvement over the previous 12 months, with multi-denominational slots accounting for 55% of that amount, with $5.6 billion. Penny slots have provided $3.4 billion in revenue in that stretch, but that is 8.9% lower compared to August 2021-July 2022.
The Strip cleans up on baccarat
The bulk of baccarat revenue — $190.2 million in total — came on the Las Vegas Strip. That was 40.4% higher than last year, as the 358 tables pulled down an average of $531,201 in winnings. Blackjack was a distant second in revenue at $77.4 million, down 22.4% from July 2022.
Baccarat and blackjack are the only two table games to eclipse $1 billion in revenue on the Strip over the past 12 months, with baccarat at $1.2 billion and blackjack edging just over $1 billion. The $3.7 billion-plus in table games revenue over the past 12 months is 2.5% higher compared to the previous year-long span.
The Strip accounted for more than 80% of the $94 billion in blackjack revenue earned by operators statewide, though those winnings were down 17.7% compared to July 2022. When including all table games revenue in the state, blackjack has proven to be the top revenue generator over the past year of wagering at $1.22 billion, followed by baccarat at $1.17 billion.
