April ups and downs as Nevada casinos report $1.24 billion win

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April ups and downs as Nevada casinos report $1.24 billion win
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LAS VEGAS (KLAS) — As Aprils go, it was the best ever for Nevada casinos. But it was also the worst month for Las Vegas Strip casinos over the past year, numbers released Wednesday by the Nevada Gaming Control Board show.

Statewide, casinos posted a $1.24 billion win last month, and the Strip came in at just over half that total with $666 million. Both figures were dramatic improvements over April 2023, and a positive after gaming wins dropped in March.

“This month represented a very nice comeback after last month’s decrease,” according to Michael Lawton, senior economic analyst for the Gaming Control Board. The statewide total represented a 6.95% increase over April 2023, and the Strip was 6.62% higher.

“April traditionally is not the strongest month for gaming revenue and although this is our lowest win total this calendar year, it does represent an all-time record for the month of April,” Lawton said, adding that the April 15 tax deadline and the Easter holiday tend to work against casinos.

Downtown Las Vegas also turned in favorable numbers, up 11.1% over April 2023 on the strength of slot machine revenue and better performance at sports books, Lawton said.

“Strip Baccarat continued to perform very well against a soft comparison for hold and win as last April Strip Baccarat held at 7.1% and win was down 11.30%,” he said.

And Durango Casino & Resort continues to boost the gaming win in the locals category (“Balance of Clark County”), which tracks off-Strip casinos in Las Vegas and outlying areas.

April and August have been the slowest months over the past two years, as November and December have ramped up around major events including casino openings and the F1 Las Vegas Grand Prix.

Las Vegas will feel the impact of fewer rooms on the Strip due to the closing of the Tropicana and the planned July shutdown of The Mirage as it transitions to Hard Rock branding. Those closings will balance the addition of new rooms farther north on the Strip at Fontainebleau Las Vegas, which opened in December.

Nevada has collected $70,273,837 in percentage fees so far this month, based on the taxable revenues generated in April 2024. This represents a 4.18% increase compared to May 2024.