In November 2023, the Nevada Gaming Control Board reported that Clark County had achieved a record-breaking $1.125 billion in gaming revenue. This represented a significant 14.3% increase compared to November 2022, with much of the boost attributed to the Formula One Las Vegas Grand Prix, which took place from November 16th to 18th.
Senior economic analyst Michael Lawton noted that the Grand Prix had played a substantial role in the surge in revenue. Baccarat was identified as the primary revenue generator, bringing in $821 million and marking a substantial 22.65% increase from the previous year. The overall growth of the state also saw a significant 78.6% increase in earnings, with the 25 registered casinos on the Strip earning $72 million, a $160 million rise from the previous year.
Despite the success in November, July continued to be the most profitable month for gaming revenue in Las Vegas. In addition to the Grand Prix, other events such as U2 at the Sphere and Usher at Dolby Live within Park MGM, as well as the contributions from the Las Vegas Raiders, also played a role in driving up revenue.
While the Strip saw a significant increase in revenue, other areas of the state experienced mixed results. Southern Nevada markets like Downtown Las Vegas, Laughlin, and the Boulder Strip reported declines, while Mesquite and North Las Vegas remained unchanged. North and South Lake Tahoe also saw decreases compared to the previous year.
Taxes from gaming also saw an increase, reaching $85.4 million with a taxable amount of 6.75%. Over six months, this amounted to $499.7 million, a 3.2% increase from 2022. The Strip also saw a notable increase in gaming taxes, reaching 7% more than the previous year.
Table games and slot machines were significant contributors to the overall gaming revenue, with Strip tables generating $410.1 million and slot machines bringing in $410.9 million. Nevada Sportsbook won $41 million, while mobile betting accounted for 67.8% of total bets, bringing in $625 million. Overall, the gaming industry in Clark County experienced significant growth in November 2023, driven by major events and a strong performance in key gaming areas.