Last updated: February 02, 2025
Nevada casinos set another annual revenue record in 2024, reporting $15.6 billion in gross gaming revenue (GGR), a 0.5% increase from 2023. The growth was driven by slot machine revenue, which expanded 2.3% to $10.5 billion, while table games saw a 3% decline due to a downturn in baccarat and roulette.
On Thursday, the Nevada Gaming Control Board (NGCB) issued its December and year-to-date revenue report for 2024. The state’s casinos and licensed gaming facilities ended the year with strong performance, as December’s win was almost $1.5 billion. Moreover, December ended a two-month year-over-year losing streak.
The gross gaming revenue (GGR) of $1.46 billion in December was a 2% gain from the previous year. In addition, December helped push the statewide win over $15.6 billion for the year, a 0.5% gain from 2023.
The year 2024 was significant as it was the fourth year in a row that Nevada casinos recorded a new annual gaming revenue high. Nevertheless, unlike in the preceding years, the markets outside of the Las Vegas Strip were largely responsible for the continued gains in 2024.
Unlike in 2023, the main reason behind this year’s record gaming win totals was not the Las Vegas Strip. Indeed, when the Strip is excluded from this year’s calculations, the statewide total win increased by 2.6 percent, or $173.2 million,” said Michael Lawton, senior economic analyst for the NGCB.
“During the calendar year 2023, the Strip accounted for 90.2% of the $678.4 million increase when compared to calendar year 2022. While the Strip did not see growth above the baccarat-fueled record total of calendar year 2023, it only fell 1%, or $88.5 million, while at the same time establishing new records for slot win and volume,” Lawton added.
In 2024, Nevada Online slot machines contributed $10.5 billion of the state’s total GGR of $15.6 billion. Revenue from these machines increased by about 2.3%.
It was a different story on the felt, as table game revenue slid almost 3% to shy of $5.1 billion. Baccarat was to blame, as the game popular with Asian and high-roller European players, saw win contracts over 13% to $1.4 billion. A toned-down F1 Las Vegas Grand Prix in November didn’t help.
Roulette’s win was also down about 4% to $440 million. Craps was too, with the dice game winning $450.7 million, a 3.6% reduction.
Positives came via blackjack, with 21 seeing revenue climb 1% to $1.3 billion. Revenue from Ultimate Texas Hold’em was another bright spot, with the game-winning $207.5 million, or 10% higher than in 2023.
Though the Las Vegas Strip experienced a slight setback in terms of GGR in 2024, several other metered markets reported unprecedented play. The NGCB filing shows that in addition to the state as a whole, Clark County, downtown Las Vegas, Mesquite, and Carson Valley each set all-time GGR highs.
Clark County, home to Las Vegas, reported a GGR of more than $13.56 billion, a 0.6% gain in 2023. Downtown Las Vegas revenue climbed over 2% to a record $931.26 million, while GGR in Mesquite was up 3% to an all-time high of $189 million. Carson Valley casinos improved annual win by 1.2% to nearly $135.8 million.
December 2024 was notable for oddsmakers in that the month marked the industry’s first losing month on football in more than a decade. The NGCB reveals that oddsmakers lost more than $2 million on football, as many NFL and college games went the public’s way.
December was the first time since November 2012 that Nevada bookmakers posted a monthly loss on football, thus bringing an end to a 145-month winning streak for the house. Despite football-related losses, Nevada sports betting revenue was still positive, with oddsmakers posting a profit of around $15 million.
Since favorites overwhelmingly won in the NFL Playoffs, January might also be difficult for the bookmakers.
