Blame the calendar and slots for Nevada recording its fourth monthly gaming revenue decline in the last five months. The Las Vegas Strip also sustained its fifth consecutive monthly year-over-year decline in November as the city hosted its second F1 race.
The Strip generated $788.7 million in gaming revenue, a decline of 3.9% from November 2023’s $820.8 million. Nevada gaming revenue overall fell 4.2% with $1.31 billion generated in November, down from $1.37 billion in 2023. Gaming revenue is up 0.4% for the year.
November 2023 had two additional weekend days.
“Obviously, we were facing a difficult comparison with November (2023), the third highest win total in state history,” said Michael Lawton, economic analyst for “However, if we hadn’t been negatively impacted by slot revenue timing, since November 2024 ended on a Saturday, the state would have recorded an increase year over year.”
The last time the Strip decreased in five consecutive months pre-pandemic was January through May 2019. For the year, the Strip’s total win is down 0.8%.
“If you were to apply a normalized slot hold to Strip slot win, the Strip would have been down $11.1 million or 1.4% compared to last November,” Lawton said. “For the Strip, as usually is the case, the story is baccarat. Strip win was down $32.1 million and baccarat win was down $32.7 million. If you excluded baccarat, the Strip was relatively flat, up just 0.1% or $532,000. Strip baccarat was facing a difficult volume and hold comp from last November when baccarat held 19% and volumes totaled $938.4 million, an increase of 90% or $444.5 million (from November 2022 when there was no F1 event).”
November marked the 45th consecutive month that the state recorded $1 billion in monthly gaming win. When compared to November 2022, Nevada’s November 2023 gaming win increased 12.6%, with Strip’s gaming win increasing by 22.6%, Lawton said.
The Strip’s slot win decreased 2.7% or $11.1 million with a 5.6% or $279.8 million increase in coin-in. Slot hold was 7.6% versus 8.3% last year.
The Strip’s games win decreased 5.1% or $21.1 million and drop decreased 8.7% or $237.2 million. Games hold percentage was 15.6% versus 15% last year.
Strip baccarat win totaled $145.7 million and was down $32.1 million or 18.3%. Volume was $856.7 million, down 8.7% or $81.8 million. Hold was 17% versus 19%. Total win excluding baccarat increased by 0.1% or $532,000.
Statewide total gaming win excluding baccarat decreased 1.9% or $22.9 million. Statewide baccarat win has decreased in five consecutive months and six of the last seven months. For the year, statewide baccarat win is down 5.7% or $72.2 million. Volumes are down 0.8% or $66.8 million on a hold percentage of 15% versus 15.7% in 2023.
Statewide slot win of $810.6 million decreased 6.7% or $58.2 million and coin-in of $12.3 billion was up $604.3 million or 5.2%. Slot hold percentage was 6.6% versus 7.4% last year.
Nevada sportsbooks won $67.5 million, up 64.7% or $26.5 million compared to November 2023 on a hold percentage of 8.1% versus 4.5% last year. Sportsbook wagers totaled $837.9 million, down 9.1% or $84 million compared to last November when $921.9 million was wagered statewide.
Mobile wagers totaled $585.5 million, down 6.3% ($35.9 million), and accounted for 69.9% of all wagers, Lawton said.
Football won $40.7 million, an increase of 127.6% or $22.8 million on wagers of $479.7 million versus $530.4 million last year, down 9.6% or $50.7 million. Hold was 8.5% versus 3.4% last year.
Other sports won $9.7 million, an increase of 50.5% or $3.3 million, on wagers of $79.8 million versus $75.6 million last year, an increase of 5.6% or $4.3 million. Hold was 12.1% versus 8.5% last year.
For the year, Nevada sportsbook win is up 10.6% or $44.9 million and volumes are down 4.6% or $343.6 million.
On the Strip, sportsbooks won $24.4 million, up 41.6% or $7.2 million. Volumes were down 11.8% or $51.8 million on a hold of 6.3% versus 3.9% last year.
Las Vegas locals casinos recorded $245.2 million in revenue in November, down 4.7%. Overall, Clark County’s gaming win totaled $1.163 billion and decreased 4.2% or $51.4 million.
Downtown Las Vegas recorded $79 million, down 2.6% from $81.1 in November 2023.
North Las Vegas recorded $24.4 million, a 6% increase over $23 million in 2023.
The Boulder Strip recorded $66.2 million, a 20.5% decrease from $83.3 million in 2023.
Laughlin recorded $34 million, a 15.5% decrease from $40.3 million in 2023. Mesquite recorded $16.4 million, an 8.7% increase over $15 million in 2023.
Reno recorded $51.9 million, a 10.4% decrease from the $58 million in 2023. Sparks recorded $14.9 million, an 8% increase over the $13.8 million in 2023.
South Lake Tahoe recorded $7.34 million, a 0.5% decrease from the $7.38 million in 2023.
In November, the Strip hosted Adele performing in her final eight shows at the Colosseum inside Caesars’ Palace. The Eagles continued their residency at the MSG Sphere on November 1-9. Allegiant Stadium hosted a Billy Joel and Sting concert on November 9. Usher played two nights at the T-Mobile Arena on November 15 and 16. The Formula 1 Grand Prix Las Vegas returned to the Las Vegas Strip November 21-23. The Las Vegas Raiders played a home game at Allegiant Stadium on November 24 against the Denver Broncos.
