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Clark County reported a file $1.215 billion in gaming win for November, the Nevada Gaming Management Board reported Thursday.
The excessive whole was 14.3 p.c greater than November 2022 and was largely because of the inaugural look of the Method One Las Vegas Grand Prix Nov. 16-18. It’s more likely to gas the talk over the advantages of the race that disrupted site visitors for months and blocked entry to dozens of small companies and eating places alongside the Strip.
The county’s success resulted in a statewide gaming win file for November of $1.374 billion, which was the second highest month of all time.
“The four-day interval starting on Nov. 16 was extraordinarily worthwhile for each gaming and non-gaming exercise on the Las Vegas Strip with some properties estimating these days established all-time file ranges of income,” stated Michael Lawton, the Management Board’s senior financial analyst who crunches the gaming numbers for the state.
Baccarat — the sport of alternative for rich European race followers attending the Las Vegas occasion — was a serious contributor to the Strip having its second-best month ever, with $821 million in win, a 22.6 p.c improve over November 2022.
“The occasion’s success was extra evident at luxurious properties the place the Las Vegas Strip’s baccarat improve accounted for 78.6 p.c of the state’s progress this month,” Lawton stated. “Moreover, the 25 licensees which might be included within the $72 million-or-over income vary for annual gross gaming win on the Las Vegas Strip elevated by $160 million or 25.8 p.c in comparison with final November and accounted for over one hundred pc of the state’s total improve for the month.”
Statewide and on the Strip, November was solely the second-best month in historical past.
July nonetheless the perfect
These information are nonetheless held by July 2023, with $1.404 billion and $834.9 million, respectively.
July, with 31 days within the month, historically is among the strongest months of the 12 months for gaming. In July 2023, the Strip benefitted from the best baccarat maintain share since June 2003, 23.9 p.c. That month additionally had two further weekend days.
July 2023 was the perfect gaming win month ever, with July 2021 No. 4 all time and July 2022 No. 5 all time.
The Las Vegas Grand Prix wasn’t the one particular Strip occasion producing site visitors.
U2 continued its residency on the Sphere and Usher had a number of performances at Dolby Reside inside Park MGM in November. The Las Vegas Raiders had three residence dates in November with video games Nov. 5, 12 and 26.
The Strip wasn’t the one market to have an excellent November.
The statewide whole win excluding the Strip elevated by 0.3 p.c and for the calendar 12 months so far, whole win is up 0.6 p.c or $38.3 million excluding the Strip.
Different Southern Nevada markets provided a blended bag in November. Downtown Las Vegas, Laughlin and the Boulder Strip have been down 1.9 p.c, 2.5 p.c and a pair of.2 p.c, respectively, whereas North Las Vegas and Mesquite have been flat.
South Lake Tahoe and North Lake Tahoe have been down 8 p.c and eight.2 p.c, respectively, from final November.
Gaming taxes
Gaming tax collections had its second-best month of the fiscal 12 months with $85.4 million added to the state’s basic fund as of Tuesday on account of the 6.75 p.c tax on gaming. That brings the six-month degree of tax collections to $499.5 million for the primary half of the fiscal 12 months, a 3.2 p.c improve over the 2022-23 fiscal 12 months.
For the primary 11 months of calendar 12 months 2023, Strip gaming win is up 7 p.c from a 12 months in the past.
Whereas baccarat play led the best way on the Strip, different on line casino video games had excessive performances.
Baccarat win of $181.4 million was up 209.1 p.c from a 12 months in the past with the drop — the quantity wagered — growing 88.9 p.c to $959.1 million. The baccarat maintain share was 18.9 p.c in November in contrast with 11.6 p.c in November 2022. Whole gaming win on the Strip excluding baccarat elevated 2.6 p.c, or $30.7 million.
Strip desk video games gained $410.1 million, the third-highest all time, growing by 61.9 p.c, The table-game drop totaled $2.7 billion, growing by 39.5 p.c. November ended a streak of six consecutive decreases in drop for desk video games on the Strip and the video games maintain share was 15 p.c in contrast with 12.9 p.c final 12 months.
Strip slot win totaled $410.9 million, a lower of 1.3 p.c from 2022. Coin-in totaled practically $5 billion, a rise of 0.9 p.c. November was the fourth consecutive month of Strip slot-win declines. Previous to August, Strip slot win final decreased in July 2022, however November additionally ended consecutive decreases in slot quantity.
Nevada sportsbooks gained $41 million, up 8.8 p.c from November 2022 with a maintain share of 4.5 p.c in contrast with 4.1 p.c final 12 months. Sportsbook wagers totaled $921.9 million, down 0.7 p.c from a 12 months in the past.
Cell wagers totaled $625 million, down 2.7 p.c, and accounted for 67.8 p.c of whole wagers.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Observe @RickVelotta on X.
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