Key Takeaways:
The Nevada Gaming Control Board has recently unveiled the gaming figures for February 2024, and the results are quite intriguing. The state of Nevada witnessed an 8.5% increase in gaming revenue, totaling up to $1.34 billion when juxtaposed with the previous month. This growth is not uniform across the board, however, with table games and slot machines experiencing varied fortunes.
Table games in Nevada brought in a whopping $514.6 million, marking a significant 24% increase. On the other hand, slot machines reported a mere 0.6% uptick, bringing their total to $827.6 million. Despite these gains, Nevada's taxable revenue saw a slight decline of 2%, settling at $1.17 billion.
Zooming in on the Las Vegas Strip, the total win amount stands at $800.7 million. This figure represents a 17% increase year-on-year and a 12% bump from the previous month. Baccarat continues to dominate, amassing a total revenue of $180.5 million over 413 units, with the statewide total slightly lower at $180.1 million. Impressively, revenue from baccarat alone surged by 82% annually and 86% from January, underscoring its growing popularity on the Strip, second only to multi-denomination slots.
In comparison, blackjack generated $107.9 million in revenue, one-cent slots brought in $78.8 million, and roulette accounted for $24.4 million. However, it's not all rosy, as the gaming industry faced an overall decline with a few exceptions. Roulette revenue plummeted by 28% from the previous month, Pai Gow dropped remarkably by 278% to -$243,000, and revenues from slots other than multi-denominations dwindled by approximately 30%.
Specifically, one-cent slots saw a 29% decrease, one-dollar slots fell by 27%, and both five-dollar and 25-dollar slots experienced a 28% decline. On a brighter note, sports wagering on mobile platforms soared by 136% to $9.9 million, despite racebooks facing an 11% dip to $726,000 in revenue.
The taxable revenue for the Las Vegas Strip also witnessed a 6% decrease compared to January, amounting to $635.8 million. These figures paint a complex picture of Nevada's gaming landscape in February 2024, with certain games flourishing while others face setbacks. As the year progresses, it will be interesting to see how these trends evolve and what impact they will have on Nevada's gaming industry as a whole.
