NGCB Publishes March & Q1 Industry Report

Nevada’s Gaming Control Board (NGCB) published information about the local gambling industry’s performance in March 2024. Revenue remained mostly stable, experiencing only a slight decline of 1.65%. Albeit modest, the decline marked the end of eight consecutive months of revenue hikes.

In total, Nevada’s 316 licensees posted total revenue of $1.29 billion. The slight decline was attributed to the underperformance of the slot games vertical, which won $874.5 million, a figure that represents a 3.5% decline from March 2023’s record-setting slots revenue.

While table, counter and card games win increased by 2.5% to $415.9 million, the rise was not enough to offset the aforementioned decline.

The NGCB also published area-by-area information, highlighting a 1.2% decline in Strip revenue. The famed Clark County Las Vegas Strip Area, according to the regulator, posted total revenue of $716 million. The Strip reflected the overall trend as table gaming increased but was unable to offset the decline in slot games play.

The Vegas Strip casinos recorded a 4% increase in table gaming to $314.4 million. Slot gaming, in the meantime, experienced a decline of almost 5% to $401.4 million.

Sports betting also experienced a decline of 32%. While mobile betting remained mostly stable, football and basketball bets decreased. Parlay cards plummeted by a staggering 497% while hockey bets decreased by 85%.

In any case, Nevada was still able to record monthly revenue of over a billion for the 37^th consecutive month.

The Q1 Results Are Decent

While the March results were not particularly exciting, the NGCB also published information about the first quarter of 2024, highlighting some better figures.

Overall gaming revenue for the quarter stood at $3.9 billion, representing an increase of 2.35% year-on-year. The table, counter and card games vertical reported revenue of $1.3 billion, marking an increase of 6.3%. Slots revenue for the three-month period remained mostly stable at $2.58 billion (an increase of 0.44%).

The Strip area, on the other hand, recorded quarterly revenue of $2.2 billion, marking an increase of 2.45%. Table gaming revenue increased by 7.44% to $1 billion while slots revenue declined by 1.5% to $1.18 billion.

In other news, Nevada was recently named America’s most gambling-addicted state in WalletHub’s recent Most Gambling-Addicted States report.