Nevada Gaming Revenue Hits New Quarterly High Despite March Drop-Off

  • Statewide gaming revenue in Q1 was $3.82bn, beating the previous $3.81bn record
  • Nevada gaming revenue has reached $1bn for the 25th consecutive month
  • Revenue did drop off slightly in March, with significant baccarat losses a key reason
Las Vegas Strip
Nevada’s growing revenue in the first three months of 2023 set a new quarterly record. [Image:]

Nevada gaming revenue for the first quarter of 2023 has set a new record. It reached $3.82bn, just shading out the previous record of $3.81bn reached in the final quarter of 2022. State-wide gaming revenue hit $1bn for the 25th consecutive month in March.

gaming revenue is now up almost 8% for the year so far

According to Nevada Gaming Commission data, gaming revenue is now up almost 8% for the year so far compared to 2022. Slot machines still are the biggest form of gaming income for properties, while sportsbooks handled $830m during the first quarter, yielding a return of nearly $44m for operators.

The record came despite a dip last month as statewide revenue fell 3% year-on-year in March. Significant losses at baccarat tables are a key reason for the drop-off. However, the win total in March 2022 was also the second-largest in Nevada history, which makes it a difficult comparison metric.

Visitor numbers to Las Vegas remain strong, with 4.9 million passengers flying into Harry Reid International Airport last month. This was an increase of almost 16% year-on-year and the second-highest monthly passenger total in history.

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