Nevada Casinos Break Record for Third Consecutive Year
In exciting news, casinos in Nevada have ended the previous year with a bang by achieving a record-breaking win for the third year in a row. The Nevada Gaming Control Board (NGCB) officially announced that the gaming income in the state reached an impressive $15.5 billion in the previous year, making it the best single year on record. This accomplishment has been celebrated not just in major areas like Washoe and Clark County but also in smaller regions such as Wendover and Elko County.
The surge in income has been attributed to the continued demand for gaming and the multitude of special events that took place throughout the state in 2023. Reports from the NGCB show that many gaming earnings records were set over the course of the year. According to senior economic analyst Michael Lawton, casinos in Nevada broke “all-time” gaming earnings records in 9 out of 12 months in 2023, with December, November, and July being the top three months of all time. In December alone, gaming earnings reached $1.43 billion, marking a 9% increase from the same period in 2022.
Compared to 2022, the annual gaming income in 2023 rose by 4.6%, bringing an additional $679.3 million to the state’s casinos. The Las Vegas Strip alone is responsible for 90.3% of this increase. Looking back at the last two years, 2022 generated $14.8 billion for Nevada casinos, representing a 10.5% increase from the $13.4 billion earned in 2021. This data indicates a substantial 29% growth in total yearly gaming earnings when compared to 2019.
When it comes to specific details about the income in 2023, Washoe County experienced an 8.9% drop in the 1st quarter due to inclement weather. However, after the cold season, casinos in the county saw a rise in gaming income for the remaining quarters, totaling $1.04 billion for the year. This marks the third consecutive year that the county has surpassed $1 billion in yearly gaming income. Additionally, some sub-markets like Sparks casinos have seen positive results, with record levels of gambling income for 2023.
Overall, the Nevada gaming industry’s achievement of $15.5 billion in gaming income for 2023 is a testament to the continued growth and success of the state’s casinos.