Led by gains on the Strip and downtown Las Vegas, Nevada recorded its 26th consecutive month of $1 billion and higher in gaming revenue in April and set a record for the month.
The state reported $1.15 billion in revenue in April, a 2.8% increase over the $1.12 billion in April 2022. The total win was 23.8%, $223.3 million higher than April 2019 before the pandemic.
For the year, Nevada gaming revenue is up 6.6%.
Michael Lawton, a senior economic analyst with the state, said April has registered $1 billion and higher in gaming win five times, three of which have occurred since April 2021. April increased 8.6% versus April 2021.
The Strip saw $624.7 million in revenue, up 5.27% from April 2022. The Strip is up 10.7% for the year.
“Gaming win on the Las Vegas Strip continued to drive the statewide increase, as gaming win excluding the Strip decreased by $5,000 and gaming win in Clark County excluding the Strip increased by just 1% or $3.3 million,” Lawton said.
Downtown Las Vegas increased almost 11% to $74.4 million, up from $67.3 million a year ago. That compares to April 2022’s year-over-year decrease of 11.4% and prompted Circa Las Vegas owner Derek Stevens to raise concerns about the economy’s impact on downtown. For the year, downtown is up 10.4% over 2022.
Clark County’s streak of 11 consecutive months of gaming win in excess of $1 billion ended this month with a win of $995 million.
Casinos that serve locals experienced a year-over-year decline of 2%, according to analysis from Deutsche Bank. The exception was the Boulder Strip, which reported a 5.7% increase to $76.6 million.
Las Vegas hosted 3.38 million visitors in April, some 3,300 more than April 2022. For the year, visitation is 13.5% higher than 2022.
Overall hotel occupancy reached 84.3% in April, similar to April 2022. Weekend occupancy was 92.4%, an 0.8% decline. Midweek occupancy was 81%, 1.5% higher than April 2022.
Strip occupancy was 86.9%, similar to a year ago. Downtown occupancy was 72.1%, up from 70% a year ago.
The average daily room rate in April was $171, down 3.3% from April 2022 when Las Vegas hosted the NFL Draft and Korean pop act BTS.
Convention attendance was 369,400, down from 377,400 a year ago, a 2.1% decline.
There was reduced traffic between the California and Nevada border in April on I-15, a 6.8% decline. Air passenger counts were 12.8% higher.
Lawton cited numerous events that helped the April performance on the Strip: the Red Hot Chili Peppers at Allegiant Stadium; multiple Maroon 5 and Usher residency dates at the Dolby Live Theatre at the Park MGM; the National Association of Broadcasters convention at the Las Vegas Convention Center; and the Gervonta Davis versus Ryan Garcia fight at T-Mobile Arena.
Nevada sportsbooks won $32.4 million, up 27.8% or $7 million compared to April 2022, on a hold percentage of 5.42% versus 4.35% last year. Sportsbook wagers totaled $598 million, up 2.7% or $15.5 million compared to April 2022 when $582.6 million was wagered statewide, Lawton said.
Mobile wagers totaled $395.2 million, down 7% or $29.7 million and accounted for 66.1% of total wagers.
Statewide slot win of $837.9 million increased 4.2% or $33.8 million and coin-in of $12 billion was up $228.2 million or 1.9%. Slot win percentage was 6.99% versus 6.84% in April 2022.
The Las Vegas Strip’s slot win totaled $389.4 and increased 7.9% or $28.7 million. Coin-in totaled $4.9 billion and increased 8.1% or $369.6 million.
Downtown’s slot win totaled $51.1 million and increased 15.3% ($6.7 million). Slot coin-in was up .03% ($179,000). Slot win percentage was 8.13 versus 7.06% last year.
Statewide table, counter and card-game win of $321.8 million decreased 0.8% or $2.5 million and game drop of $2.7 billion increased 2.4% or $61.6 million from April 2022. Game hold was 12.1% versus 12.5% last year, according to Lawton.
Baccarat win of $44.1 million decreased 14.8% or $7.7 million and baccarat drop of $620.9 million increased 11% or $61.6 million. Baccarat’s hold percentage was 7.1% versus 9.3% last year.
In downtown Las Vegas, game and table win was up 1.7% ($395,000). Game and table volume was up 6.6% or $17.1 million. Hold percentage was 8.4% versus 8.8% last year.
The Strip’s game win totaled $235.3 million and increased 1.1% or $2.6 million and drop totaled $1.9 billion and increased 2.7% or $50.2 million.
Elsewhere in Clark County, Laughlin saw $46.7 million in revenue, a 2.1% increase from April 2022. Mesquite had $16.6 million, a 0.18% decline.
In Washoe County led by Sparks, gaming revenue increased 2.2% to $87.2 million. Sparks jumped 10.7% to $15.3 million. North Lake Tahoe fell 17% to $1.5 million. South Lake Tahoe reported $13.6 million in gaming revenue, a 26% decrease over April 2022.
