According to data released by Nevada's Gaming Control Board, the state's gambling industry generated over $1.31 billion in gross gaming revenues in October 2023, setting a new monthly record. The report states that October 2022 revenue increased by 2.7% over October 2022 revenue.
A $1.31 BILLION RECORD:
According to the Nevada Independent, the record hit in October represents the sixth-highest revenue level for a single month. Reno and the surrounding Las Vegas gaming markets accounted for the majority of the total revenue; the Las Vegas Strip alone brought in $714.5 million. Nevertheless, the high-end gaming segment experienced a 1.2 percent year-over-year growth, primarily because of the $89.8 million in revenue from premium baccarat.
3.5% EXCESSIVE OF THE 2022 RECORD:
Michael Lawton, the control board's senior economic analyst, reportedly said that after over two years of straight monthly increases, sports betting and slot machine revenues at the Strip casinos experienced a brief decline. According to the source, gaming revenues in Las Vegas markets climbed by 5.7% in October. The Boulder Strip casinos in Clark County, which includes Henderson, brought in $88.6 million that same month, which resulted in a 10.3 percent increase in gaming revenue. Nevada's gambling revenue for the first ten months of 2023 is already 3.5% higher than the record of $14.8 billion set in 2022, with the Strip seeing an overall increase of 5.4% over the same period.
5 BILLION PASSENGERS:
The Nevada Independent claims that the record October revenues were also a result of the Harry Reid International Airport's exceptional performance, which saw nearly 5.5 million passengers in a single month. For the first time since January 2020, the facility registered over 315,000 foreign visitors. Lawton reportedly stated that "the incredible airport passenger totals include local passengers as well," implying that the number of gaming patrons was boosted by both domestic and foreign visitors.
34.1 MILLION VIEWERS:
Las Vegas' occupancy rate of 86.7 percent is similar to that of the same month in 2022 because of the record number of visitors. Nonetheless, during the course of ten months in 2023, the global hub of entertainment saw over 34.1 million visitors—a 5.8% rise over the corresponding period in 2022. Vice President Kevin Bagger of the Las Vegas Convention and Visitors Authority reportedly said that October's average daily hotel room rate of $233.22 and revenue per available room of $204.53 broke records for the Strip, surpassing those set in March. The source claimed that the Las Vegas Raiders home games and stadium appearances by Pink, Ed Sheeran, and U2 were what drove the occupancy rates.
