Las Vegas Strip casinos post another decrease in October; statewide win hits $1.28B

If last year was exceptionally good for casinos, gamblers have been on a bit of a run this year.

“The Strip has decreased six times this year through 10 months and has decreased in four consecutive months. The last time the Strip decreased in four consecutive months (pre-pandemic) was February through May 2019,” according to Michael Lawton, NGCB senior analyst.

Strip casinos won $692.1 million in October — more than $200 million below the record $905 million reported in December 2023 and $22 million lower than October 2023.

Lawton described four consecutive declines on the Strip as “difficult baccarat comparisons due to elevated hold percentages during the same period last year.” And it doesn’t appear to be a larger trend.

“Gaming win excluding baccarat has increased in three of the last four months,” Lawton said. “This month was the exception as sports wagering specifically football experienced a very bad month (hold-related) in addition to roulette which was hold-related as well.”

Sportsbooks metrics in the Strip during October 2024

Statewide, sports books lost $320,000 on parlay cards alone during October. Books on the Strip did better, bringing in $105,000 on parlays. Overall, Strip sports betting produced a win of $1.5 million — 327% lower than overall sports bet wins in October 2023.

Other gaming metrics in the Strip during October 2024

He said other gaming metrics on the Strip remain healthy, ahead of last year’s pace. Take baccarat out of the picture, and the Strip is $13.9 million (0.2%) ahead of last year’s pace. But with baccarat included, the total win is 0.5% below 2023’s pace.

Clark County metrics during October 2024

The win total for the balance of Clark County — a category that includes locals casinos in the Las Vegas valley — reached $164.4 million. That’s up from $149.5 million last October, before the opening of Durango Casino & Resort in the southwest valley. That’s a 10.0% improvement.

Big shifts in The Strip

The Strip has seen some big shifts over the 12 months with the closing and implosion of the Tropicana in preparation for a Major League Baseball stadium at the site, the closing of The Mirage as it rebrands to the Hard Rock, and the opening of Fontainebleau Las Vegas in December 2023.

Total wins in 2024

Totals show how gaming wins have shifted in other areas compared to October 2023:

Clark County overall: $1.1 billion (-2.15%)

The Strip: $692.1 million (-3.12%)

Balance of Clark County: $164.4 million (+10.03%)

Downtown Las Vegas: $86.8 million (-11.01%)

Boulder Strip: $86.3 million (-2.65%)

Laughlin: $44.3 million (-6.80%)

Reno Casinos metrics

Elsewhere in the state, Reno casinos posted a $68.2 million win, down 4.87% compared to a year ago. South Lake Tahoe casinos won $20.8 million, up 18.72% compared to October 2023.

Total Nevada Collection 

Nevada collected $79.6 million in percentage fees during the month of November 2024 (through Nov. 30), based on the taxable revenues generated in October 2024. That’s a 4.24% (or $3.5 million) decrease compared to November 2023, when percentage fee collections were $83.1 million.