Nevada Casinos Set Another Monthly Revenue Record in April

The Nevada Gaming Control Board released the state’s gaming revenue totals for April on Wednesday, revealing that the state set a new record for the month.

Overall, the state brought in $1.24 billion in gaming win for April 2024, an increase of 6.9 percent over the $1.16 billion casinos made last April. That makes he highest ever total for an April in Nevada history. 

Las Vegas Strip Powers Record Gaming Win

April was the 38^th consecutive month in which gaming revenue topped $1 billion in Nevada.

The record-high total was fueled by the Las Vegas Strip, where revenues rose 6.6 percent year-over-year to $666 million. Those record numbers came despite the fact that the Tropicana shut down on April 2.

In terms of raw numbers, April’s revenue total was down 3.9 percent from March, which in itself came in below a huge February which was boosted by Las Vegas hosting the Super Bowl. But with April typically representing a lull in the spring for Nevada’s casinos, the numbers came as a pleasant surprise to the gaming industry and analysts. 

“This month represented a very nice comeback after last month’s decrease,” Michael Lawton, senior economic analyst for the Nevada Gaming Control Board, told the Las Vegas Review-Journal. “April traditionally is not the strongest month for gaming revenue and although this is our lowest win total this calendar year, it does represent an all-time record for the month of April.”

Both downtown Las Vegas (11.1 percent) and outlying Clark County (24.5 percent) also saw significant revenue gains over last April. 

Events Lead to Increase in Vegas Tourism 

Las Vegas in particular appeared to benefit from a slew of strong events that brought in visitors throughout the Month. Mariah Carey spend two weeks in residency at Park MGM during April, while UFC 300 and a Garth Brooks residency at Caesars Palace were also big contributors. The Vegas Golden Knights also played two home playoff games during the month.

The Las Vegas Strip saw slots winnings increase to $409.2 million (up 5.1 percent), and also saw increases in winnings from table games like blackjack (up 10.2 percent to $81.7 million). Baccarat was again a major driver, with revenues up 80 percent year-over-year to $76.7 million thanks to an 11.6 percent hold on the game, up from only about seven percent last year.

The Las Vegas Convention and Visitors Authority (LVCVA) also reported strong numbers, saying that tourism to Las Vegas was up nearly four percent for April. Macquarie Securities gaming analyst Chad Beynon said that this trend is likely to continue throughout 2024. 

“We expect Strip gaming revenue to moderate but we see further growth in non-gaming [spending] given the programming from sports, entertainment, and a strong convention calendar,” Beynon wrote in a research note, according to The Nevada Independent.

This marks the second time in three months that Nevada has reported record gaming revenues. In February, Nevada casinos won $1.34 billion from gaming, the biggest revenue haul for February in the state’s history, and the fifth-biggest monthly total ever.

(Image: Barry King/Alamy)