Nevada gaming got off to a roaring start in 2025, with casinos winning $1.43 billion in January, a 12.5% increase and second highest of all time.
The Strip recorded $840 million in gaming revenue, the third highest month all time and up over the $686 million in January 2024, according to the Nevada Gaming Control Board. It ended a streak of six consecutive monthly year-over-year declines on the Strip.
January’s statewide win was second only behind the all-time record set in December of $1.46 billion.The all-time record on the Strip is $905.3 million in December 2023, followed by $881.2 million in December 2024.
On the Strip, baccarat win totaled $214.3 million and was up $117.3 million or 121%. Volume totaled $801.3 million, up 35.8% or $211.1 million. Hold was 26.74% versus 16.43%, according to Michael Lawton, a senior economic analyst with the Gaming Control Board.
Total statewide gaming win excluding baccarat increased 3.7% or $43.3 million, Lawton said.
The Strip’s games win of $515.7 increased 45.7% or $130.3 million. Drop totaled $2.2 billion and increased 13.9% or $268.5 million. Games hold percentage was 18.94% versus 14.82% last year.
The Strip’s slot win totaled $424.4 million and increased 5.9% or $23.7 million with an 11.3% or $490 million increase to coin-in. Slot win percentage was 8.8% versus 9.2% last year.
The Las Vegas Convention and Visitors Authority reported Las Vegas started the year with 3.34 million visitors, down 1.1% from January 2024. Passengers going through Harry Reid International Airport reached 4.36 million, up 0.3% year-over-year. Auto traffic crossing the Nevada/California border rose 3.1%.
Las Vegas convention attendance reached 629,000 in January, up 12.8% year-over-year, supported in part by strong attendance at recurring larger trade shows, including CES and World of Concrete, plus the calendar impact of World Market Center’s Winter Show and Total Product Expo falling fully in January this year versus last year, when its impact straddled January and February, according to the LVCVA.
On a room base with roughly 6,000 fewer rooms than last year, January occupancy reached 81.9%, up 3 points, with weekend occupancy of 85.6% (up 2 points) and midweek occupancy of 80.2% (up 3.2 points). Strip occupancy was 85%, up 81.7% year-over-year, while downtown was 71.3%, up from 66.4%. Average daily room rates for the month reached $195 (+2.2% year-over-year) with revenue per room of $160 (+6.0% year-over-year).
Special events included Janet Jackson performing at Resorts World Las Vegas on January 3 and 4. The Las Vegas Raiders played a home game at Allegiant Stadium on January 5 against the Los Angeles Chargers. The Killers returned to the Colosseum at Caesars Palace on January 23 through the 25. The Eagles continued their residency at the MSG Sphere Arena from January 17 through the 25. Mariah Carey’s new residency began at Dolby Live inside the Park MGM on January 31.
Other segments reporting didn’t fare as well as the Strip.
Casinos that serve Las Vegas locals reported $281.9 million in revenue, down 1.1% from $285.1 million in January 2024.
Downtown Las Vegas reported $83.7 million in revenue, down 2.2% from $85.7 million in January 2024.
North Las Vegas had $23.8 million in revenue, a 5.3% increase from $22.6 million in January 2024.
The Boulder Strip had $87.3 million, down 6.2% from $93.1 million.
Outside of Las Vegas in southern Nevada, Laughlin had $42.2 million, down 4.9% from $44.4 million in January 2024. Mesquite had $17.3 million, a 9.6% increase over $15.8 million in 2024.
In northern Nevada, Reno recorded $67 million, up 2.5% from $65.4 million. Sparks had $13.5 million, a 3.3% increase from $13.1 million.
North Lake Tahoe had $1.9 million, an 11.1% decline from $13.1 million. South Lake Tahoe recorded $22.2 million, a 22.3% increase from $18.2 million.
Statewide baccarat win of $215.2 million increased 119.5% or $117.2 million and baccarat drop of $813 million increased 33.7% or $205 million. January’s baccarat win amount is the fourth highest total all-time. Baccarat’s hold percentage was 26.5% versus 16.1% last year.
Statewide table, counter and card games win of $524.1 million increased 33.2% or $130.5 million and games drop of $3 billion increased 11% or $301 million from January 2024. Games hold percentage was 17.2% versus 14.4% last year, Lawton said.
Statewide slot win of $915.3 million increased 3.4% or $29.9 million and coin-in of $11.7 billion was up $780.9 million or 7.1%.
Nevada sportsbooks won $72.6 million, up 12.1% or $7.9 million compared to January 2024 on a hold percentage of 9.1% versus 8.3% last year. Sportsbook wagers totaled $797.0 million, up 1.8% or $14.1 million compared to last January when $782.9 million was wagered statewide.
Mobile wagers totaled $533.9 million, up 4.9% or $25.0 million, and accounted for 67% of all wagers.
