Nevada Gaming Revenues Show Modest Growth in February 

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Nevada gaming revenues edged up modestly in February, but state tax collections tied to casino win dipped.

Nevada february revenue
Key Takeaways:
  • Vegas Strip gaming revenue up 1% in February, supported by baccarat and slot play
  • Regional markets showed momentum with jumps across the board

Statewide gaming win, the amount casinos retained after paying jackpots and player payouts, totaled $1.236 billion in February. This was a 1.5% increase from $1.218 billion a year earlier, the Nevada Gaming Control Board reported March 26. 

For the current fiscal year through February (July 1-Feb. 28), cumulative win rose 0.79% versus the same period a year ago.

The statewide gain was driven largely by gains outside the Las Vegas Strip. Clark County as a whole posted only a 0.74% increase to $1.071 billion in February. Within Clark, the Las Vegas Strip itself was essentially flat, up 0.86% to $696.3 million, while downtown Las Vegas lagged, falling 4.2% to $69.8 million.

Las Vegas Strip has experienced a period of softer performance following earlier post-pandemic highs, with January revenue falling 11% year-on-year.

Regional Markets on the Up

Regional markets showed more momentum. Washoe County (Reno and Sparks) recorded a 7.13% jump to $84.2 million in February, with Reno up 7.7% and Sparks up 8.3%. Elko County, which includes gaming tied to rural and destination properties, rose 7.7% to $33.6 million. 

Smaller gaming centers such as Mesquite and North Las Vegas also posted mid-single-digit gains.

Not all areas improved: Laughlin’s win fell 8.8% to $38.5 million and North Lake Tahoe dropped 21.3% to $1.4 million, reflecting softness in some tourist-dependent corridors.

Despite the modest rise in gaming win, the state collected less in percentage fees, the primary tax on gaming operators, in March. 

Percentage fee receipts totaled $73.0 million, a 3.0% decline from $75.3 million a year earlier. Fiscal-year-to-date percentage collections through March 20 stood at $775.8 million, up 1.56% from the prior year, but the year’s totals have been affected by transferable tax credits of $7.5 million claimed so far.

Nevada’s gaming sector has been navigating several pressures: sustained consumer spending on experiences, competition from expanded gaming elsewhere in the West, and shifting tourist patterns. 

Tourism dynamics remain a key variable to the gaming revenue. Las Vegas has recently introduced targeted international marketing initiatives, including campaigns aimed at reviving visitation from Canada. This included launching a temporary dollar parity promotion that accepts the Canadian dollar at face value.