In July 2023, Nevada casinos generated a record-breaking $1.4 billion in gaming revenue. This marks the highest monthly gaming revenue ever recorded in the state of Nevada, surpassing the previous record set in July 2019 by nearly $200 million.
The record-breaking gaming revenue was driven by a surge in visitation to Las Vegas and other Nevada cities. In July 2023, the Las Vegas Strip saw a record-breaking 8.5 million visitors, a 7% increase from the same month last year. This influx of visitors helped drive up gaming revenue across the state, with casinos in Reno and other cities also seeing an increase in revenue.
The surge in gaming revenue is largely attributed to the increasing popularity of online gambling. In July 2023, online gambling accounted for nearly a quarter of all gaming revenue in Nevada, up from just 10% in July 2019. This increase is due to the growing number of online casinos and sportsbooks operating in the state, as well as the increasing number of people who are comfortable gambling online.
The record-breaking gaming revenue is a positive sign for Nevada’s economy. The state’s casinos employ tens of thousands of people and generate billions of dollars in tax revenue each year. The record-breaking gaming revenue is also a sign that Nevada’s tourism industry is continuing to thrive, despite the ongoing pandemic.
While the record-breaking gaming revenue is a positive sign for Nevada’s economy, it is important to note that the state’s casinos are still facing challenges due to the pandemic. Many casinos have had to reduce their capacity and implement safety protocols to protect their employees and guests. Additionally, many casinos have had to reduce their operating hours or close temporarily due to low demand.
Despite these challenges, Nevada’s casinos have been able to generate record-breaking gaming revenue in July 2023. This is a testament to the resilience of the state’s economy and its ability to adapt to changing circumstances. As long as Nevada’s casinos continue to prioritize safety and customer satisfaction, they should be able to continue generating record-breaking gaming revenue for years to come.
