Las Vegas Strip Casino Net Income Falls More Than 40% In 2024

^{The Vegas Strip shining bright as the sun sets on another day. (Image: @SCLasVegas on X)} 

The net income for Las Vegas Strip casinos in 2024 fell 40.4% to $820 million, according to numbers released earlier this month by the Nevada Gaming Control Board (NGCB). While net income fell compared to 2023, total revenue increased by 6.2%, according to the annual Nevada Gaming Abstract.

The massive 179-page report includes income and expenses from 307 Nevada casinos grossing $1 million or more in gaming revenue for the year. Statewide, these casinos produced $31.5 billion in revenue with a net income of $2.6 billion. Similar to Vegas Strip casinos, revenue increased while net income fell 24.4% from $3.4 billion in 2023.

This report is the most thorough of all public data released by the NGCB. It includes income and expenses for most segments of Las Vegas casinos. There are granular details as to how much casinos make from hotel rooms, dining, drinking, and which types of games generate the most revenue. 

Las Vegas Is a City of Contrasting Similarities

Las Vegas is a diverse casino town. This report shows how visitors spend their money differently based on where in Las Vegas their favorite casinos are located.

For example, the opulent Las Vegas Strip casinos see more non-gaming revenue than those downtown or outside the tourist-heavy areas. That makes sense, as these casinos host Las Vegas residencies, Michelin-starred restaurants, massive nightclubs, spas, and more. Meanwhile, the gaming conditions aren’t as player-friendly as those in other parts of town.

Clark County, which includes all sections of Las Vegas, had 179 casinos gross $1 million or more in gaming revenue in 2024. Altogether, these casinos saw $28.5 billion in total revenue in 2024, an increase of 6.2% from the previous year.

Net income for these casinos fell 24% from 2023 to $2.3 billion. Here’s a breakdown of net income in some of the most popular segments:

• Vegas Strip was down 40.2% to $820 million
• Downtown Las Vegas was down 23.1% to $199 million
• The balance of the county was down just 4.7% to $882 million

The balance of the county segment includes the first full year of operations for Durango Casino in the southwest area of Las Vegas.

Different Spending Habits Around Las Vegas

Diving into the report, we can see where casinos generate the most income. This provides insight into how people spend their time and money in different parts of Las Vegas. 

Sometimes reports like this confirm what we see in casinos. The data can also show us things that we might not see while spending a few days eating, drinking, and gambling in Las Vegas. 

Here’s a brief breakdown of where casinos see the most revenue in different parts of Las Vegas.

Vegas Strip:

Gaming accounted for just 26.1% of income for Las Vegas Strip casinos in 2024. 

Hotel rooms generated 34% of all income at these properties. Dining made up 18.5% of income at Las Vegas Strip casinos, while drinks contributed 6.5%. Spas, shows, retail, and other amenities accounted for the remainder of Las Vegas Strip casino income.

Downtown Las Vegas: 

Gaming is a much bigger piece of the pie for downtown Las Vegas casinos. Nearly half, 49.5%, of downtown Las Vegas casino income was from gaming.

Hotel rooms accounted for 20.3% of total income downtown. Food and beverage were almost identical and accounted for a total of 22.3% of income in these casinos.

Balance of County:

The income for these casinos fits somewhere between the two main tourist areas. Gaming was responsible for 34.2% of income in casinos away from the Vegas Strip and downtown.

While these are considered casinos for Las Vegas residents, hotel rooms were responsible for 29.2% of income. Dining accounted for 16.8% of income while relatively inexpensive drinks drew 7.5% of income.

Sports Betting Generates A Tiny Percentage Of Casino Income

The monthly NGC reports provide valuable insight into Las Vegas gaming revenue splits. Each month follows a fairly consistent pattern: slot machines generate the largest share, followed by table games.

While sports betting contributes much less, it stands out in this report

Sportsbooks only account for 3.3% of gaming revenue at Vegas Strip casinos. 

The total direct revenue from sports betting at these casinos in 2024 was just under $188 million. This figure does not include food and beverage sales, seat reservation fees, or special events like those held for the Super Bowl.

This isn’t much of a surprise. Sports betting’s share of revenue on the Vegas Strip has remained in the 3%–5% range over the past decade.

The percentage of gaming revenue from sports betting is significantly higher in downtown Las Vegas. Thanks in part to Circa Sports, 16.1% of all gaming income downtown comes from sports betting. 

More than 90% of gaming revenue at casinos in the balance of the county segment comes from slot machines, while sports betting accounts for just 4.3%.