By james art Nevada gaming revenue rose 3.4% in September despite the Strip’s third straight monthly decline.
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The Nevada Gaming Control Board reported Tuesday that casinos made $1.31 billion in gaming revenue in September, up from $1.27 billion in September 2023. The state gained despite the Strip’s decline of 1.8 % over the year, from $741.2 million to $727.6 million. For the third quarter, Strip’s revenue was down 7.2%.
The last time the Strip declined in three consecutive months was March through May 2019. For the year, Strip revenue was down 0.2%.
In contrast, downtown Las Vegas posted $91 million in revenue, a 33 percent increase from $68.3 million a year ago. And domestic casinos increased 15.2% in September, from $225.3 million to $259.6 million. These properties saw growth of 7% for the third quarter. For the year, the Las Vegas resident market grew 6.2% or $138.3 million.
The Boulder Strip had a 19.3 percent increase to $80.4 million from $67.4 million, the Gaming Control Board reported. North Las Vegas was basically flat with revenue of $23.1 million, down from $23.4 million.
Downtown Las Vegas and the Boulder Strip benefited from the slot revenue schedule; the decline carried over into September from August because August ends on a Saturday, according to Michael Lawton, senior economic analyst at the Gaming Control Board.
“To get a more accurate picture of the totals, combining August and September paints a clearer picture,” Lawton said. “The Strip fell due to baccarat, and increases recorded downtown, the Boulder Strip, Clark Balance and Washoe County (in northern Nevada) more than offset the decline in the Strip.”
Nationwide revenue fell 3.8% in August compared to August 2023.
The state baccarat win of $93.7 million was down 37% or $55.1 million and the baccarat drop of $547.5 million was down 19.7% or $134.6 million. The comparison for September 2023 was difficult, as baccarat profit was $148.8 million, an increase of 85.8%, on volumes of $662.5 million and a hold of 21.8%, Lawton said.
Nationwide baccarat winnings have declined for three consecutive months and four of the last five. Baccarat’s retention rate was 17.1%, up from 21.8% last year. Total gaming revenue nationwide, excluding baccarat, increased 8.7% or $97.6 million.
Strip baccarat was $88.8 million, down $58.9 million or 39.9%. Volume was $517.7 million, down 21.9% or $144.8 million, while retention was 17.1% from 22.2%. Total non-baccarat earnings increased 7.6% or $45.3 million.
Profit at Strip gaming was down 16%, or $57.3 million, and the decline was down 6.7%, or $138.7 million. Game retention was 15.6%, up from 17.3% last year.
Profit at The Strip slot increased 11.4% or $43.8 million, with a 2.6% or $124.4 million increase in coins. Slot retention was 8.8% compared to 8.1% last year.
In September, the Strip hosted the Vegas Kick Off Classic, featuring a college football game between LSU and USC. Pink brought their summer carnival tour to Allegiant Stadium. Canelo Alvarez defended his super middleweight titles against Edgar Berlanga at T-Mobile Arena. UFC 306 was the first ever sporting event held at the MSG Sphere. The Eagles have played four games in the opening MSG Sphere.
The Las Vegas Raiders played two home games at Allegiant Stadium against the Carolina Panthers and Cleveland Browns. Garth Brooks returned to the Coliseum at Caesars Palace for a few dates. Maroon 5 played two nights at Dolby Live at Park MGM on
Stateside, slot profit of $896.9 million was up 10.1%, or $82.5 million, and coins of $11.7 billion were up $72.4 million, or 0.6%. The slot retention rate was 7.67%, up from 7% last year.
Table, counter and card gaming revenue of $416 million decreased 8.8%, or $40.0 million, and gaming decreased $2.8 billion, down 4%, or $115.8 million, from September 2023. The percentage of game retention was 15.05% versus 15.84%.
Nevada sportsbooks earned $80.9 million, up 29.8% from September 2023, with a retention rate of 10.6% compared to 7.7% last year. This represents a new all-time record, surpassing the previous high of $72 million set in November 2021.
Sports betting totaled $764.6 million, down 5.7% from last September when $811.3 million was wagered nationwide. Mobile bets totaled $484.9 million, down 10% ($53.8 million) and accounted for 63.4% of all bets.
Downtown sports revenue increased 48.3% or $5.5 million, volume decreased 2.9% or $6.2 million. Retention was 8.17% vs. 5.35%.
Elsewhere in southern Nevada, Laughlin had revenue of $38.3 million, down 7.8% from $41.6 million. Mesquite had $14.1 million in revenue, up 2.2% from $13.8 million.
In Northern Nevada, Reno had $71.8 million in revenue, up 7.2% from $63.9 million. Sparks fell 6% to $15.8 million, down from $16.8 million. South Lake Tahoe fell 18.8% to $21.3 million, down from $26.3 million.