The casinos in Nevada are on a roll.
According to numbers provided by the Nevada Gaming Control Board, Nevada casinos won over $1.3 billion from players in May. It’s a 2.5 percent increase and surpasses the previous record for that month (May). But it’s still more money than in May of any previous year.
Nevada’s casino win for the 12 months from June 2023 to May 2024 reached $15.72 billion, setting a new record. For the fiscal year that runs from July through June, the state’s gaming win has increased 4.5 percent. While the margins aren’t huge, the consistent growth is impressive. With just one month left in the fiscal year, they’ll likely close out their strongest year ever in terms of win.
An Increase in Visitors Helps Drive Casino Numbers Up
More than over 3.6 million people visited Las Vegas in May, marking a 4.6% increase compared to May 2023. The Las Vegas Convention Authority’s monthly report attributes
this growth to festivals and higher convention attendance. Notably, the number of convention visitors was up nearly 2%, with events like the Waste Expo and the Advanced Clean Transportation Expo drawing substantial crowds.
Michael Lawton, the senior economic analyst at NGCB, also attributes the bustling activity in Southern Nevada to major concerts by Justin Timberlake, The Rolling Stones, and Pearl Jam, and ongoing residencies featuring Adele, Garth Brooks, and Carrie Underwood.
Which Games Generate the Most Revenue?
The typical casino favorites fueled the big May numbers in Nevada. Here’s the breakdown:
- Baccarat: Despite a decline in revenue to $126.4 million, baccarat remained the top table game for operator winnings. Most of these winnings—$122.1 million—came from the Las Vegas Strip, down 6.6% from May 2023. Overall, baccarat revenue was down 5.5% year-over-year due to a 1.8% drop in table drop.
- Blackjack: Operator winnings from blackjack surged more than 11% to nearly $117 million. Statewide, action at over 2,000 tables increased by almost 13% to just over $788 million. The Strip outperformed the state, with a year-over-year increase of almost 18%, totaling more than $93 million in revenue.
- Roulette: On the Strip, roulette revenue ranked third among table games, reaching $37.4 million—a 55.5% increase from last year.
- Ultimate Texas Hold ’em Poker: This game saw the biggest year-over-year percentage increase in revenue, up 62.4% to $12.4 million. Overall roulette revenue climbed 45.9% to $44.1 million, and Ultimate Texas Hold ’em closely followed with a 40.4% increase to $16.4 million.
In addition, the overall slot drop increased by 4.3% compared to May 2023, reaching $12.32 billion. However, the hold from slot play was slightly lower than the previous year at just over 7%.
Despite inflation, increasing air travel costs, and weather challenges, Nevada’s gaming industry continues to thrive. While the wins may not be substantial, they persistently accumulate.
Now we’ll wait to see if they can close out the fiscal year on a high note and set the 12-month record. We’ll keep you posted.
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