Nevada Gambling Operators Post Revenue Record in May

May marked an incredibly busy month for gambling operators across Nevada and Las Vegas in particular. Newly released data from the state gambling regulator, the Nevada Gaming Control Board (NGCB), reveals that nonrestricted gaming licensees reported a gaming win of $1.32 billion last month.

The result marked a new May record for the state and was among the top 10 best results for Nevada. Last May, licensed gambling operators in Nevada reported $1.29 billion in gaming win. Compared to May 2023, the latest result of $1.32 billion marked an increase of 2.45% year-over-year.

In addition to a month-over-month, an increase was observed on a fiscal-year basis. Per NGCB’s data, the fiscal year-to-date revenue through May soared to $14.5 billion, or up by 4.46%. In contrast, for the same period in the corresponding year, the gaming win halted at $13.9 billion.

Further details released by the gambling regulator in Nevada reveal that the state collected nearly $88.5 million in taxes for June based on the revenue reported in May. A year-over-year comparison to the $79 million in taxes reported in 2023 showed an increase of nearly 12%.

Many Events Helped Attract Visitors in May

A breakdown of the $1.32 billion in revenue reported for May reveals that the lion’s share came from Clark County. This comes as no surprise, considering that Clark County is the home to Las Vegas and its famous Strip. Overall, operators in Clark County reported $1.15 billion in revenue, an uptick of 2.90% year-over-year.

The revenue for Las Vegas Strip operators was $742.5 million. Compared to the result from May 2023, the latest figure showed an increase of 3.71%.

May was a busy month for Las Vegas gaming and hospitality operators which is why the recent result isn’t surprising. A number of popular events attracted a wide range of visitors with the list including pool parties and community events that helped kick off the summer. Notably, celebrations around Mother’s Day, Cinco de Mayo, Star Wars Day and Free Comic Book Day helped increase the foot traffic.

Further exciting events in May included Movie Madness at Valley View Park, Friday Fireworks at The Plaza, Las Vegas Fire and Rescue Monthly Boot Camp and the Giant Science & Technology Expo, among others.

Downtown Las Vegas operators reported $74.9 million in revenue, representing a year-over-year increase of 1.60%, while North Las Vegas operators saw $24.7 million in gaming win for May, signaling a 2.12% year-over-year increase.

In contrast to the positive results, Laughlin and Boulder Strip operators reported revenue of $36.9 million and $84.9 million respectively. While the first result marked a staggering 21.41% decrease year-over-year, the latter was only down by 5.49% when compared to May 2023.

Washoe County operators saw a dip of less than half percent to $90.4 million in May, while gaming win for South Lake Tahoe operators decreased by 9.48% to $17.6 million. Elko County operators’ revenue increased by 4.04% to $33.7 million last month.