A record-breaking month
Nevada casinos’ gross gaming revenue (GGR) surpassed the $1bn mark in November for a record ninth consecutive month. The Nevada Gaming Control Board released GGR figures for November on Wednesday. These latest figures showcase the strength of the ongoing recovery of the gambling sector following its numerous pandemic-related struggles.
total GGR for Nevada casinos in November was $1.32bn
Total GGR for Nevada casinos in November was $1.32bn, up from October’s $1.22bn. It was also not far off breaking the all-time single month GGR record in Nevada of $1.36bn, set in July. The year-to-date casino revenue total of $12.3bn is nearly 12% greater than 2019 levels for the same period. Most regions in the state are performing very strongly. For example, downtown Las Vegas hit an all-time high GGR of $82.9m in November.
The previous record for the consecutive months over $1bn in GGR was eight, set between October 2006 and May 2007. This was just before the Great Recession kicked in and the gambling industry was severely impacted for a number of years.
Success in most areas
Sports betting revenue in Nevada also hit a record high in November, with sportsbook operators generating $72m in revenue from a total handle of $1.1bn. The previous record sportsbook revenue was $61.8m, which was set in November 2020. November was also the first time that Nevada sportsbooks had at least $1bn in handle in consecutive months. The majority of bets came through mobile sportsbooks.
In terms of the biggest gambling segments for GGR in November, slot machines led the way with $860m, with table game revenue coming in at $461.7m. The state collected tax revenue of nearly $93.6m in November from over 400 licensed casinos. This tax intake was an 87% increase year on year.
Visitor levels getting back to normal
A big reason for the strong GGR at Nevada casinos is due to visitors returning to the state in greater numbers and spending money. The US began allowing incoming international airline travel in early November from other countries, not just from Mexico and Canada as had been the case for some time.
the airport reported that about four million passengers were handled during November
Passenger numbers at the newly-named Harry Reid International Airport (formerly the McCarran International Airport) are now getting close to pre-pandemic levels. On Tuesday, the airport reported that about four million passengers were handled during November, only 4.4% lower than November 2019 levels.
There were also a number of major events that took place during the month, such as the Specialty Equipment Market Association trade show, a Rolling Stones concert, and boxing at the MGM Grand Arena.