In November 2024, the Las Vegas Strip generated $788.7 million in gross gambling revenue, representing a 4% decline in Las Vegas revenue. Revenue from slots and table games also dropped by 2.7% and 5% respectively.

Sports betting revenue accounted for 3.1% of all gaming revenue on the Las Vegas Strip, with sportsbooks experiencing growth of up to 41.6% from November 2023. Owing to the Strip’s status in the US gambling industry, the decline in its revenue also affected the state of Nevada’s gambling revenue in November 2024.

Back-to-back drop in
Las Vegas gambling revenue

According to the Nevada Gaming Control Board data, the Las Vegas Strip recorded a drop in gambling revenue for the fifth consecutive month. The Strip, arguably the US gambling capital, recorded $788.7 million in gross gambling revenue for November 2024, down by 4% from 2023.

Some experts have linked this to the second edition of the Las Vegas Formula One Grand Prix not meeting expectations, while others maintain that the notable decline in baccarat revenue was a key factor. Regardless of the underlying reasons the fact remains that Vegas Strip Revenue was 4% down.

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Gambling revenue flip-flops across Nevada

Interestingly, the decline in gambling revenue wasn’t restricted to the Las Vegas Strip, as gambling revenue flipped-flopped statewide. According to the Nevada Gaming Control Board, Nevada’s gambling industry generated $1.31 billion in gross gaming revenue in November 2024.

This figure represents a 4.2% year-on-year decline for the fourth time in the last five months. Although there are no legal online casinos in Nevada, you can keep an eye on this page for reputable information about other US states and their
online casino revenue for October 2024.

However, it wasn’t all gloom and doom for Nevada’s gambling industry’s revenue in November 2024. Although markets like the Las Vegas Locals, Mesquite, South Lake Tahoe, and North Las Vegas thrived, others like The Boulder Strip and Laughlin were hit hard across that month.

However, Nevada’s sports betting industry did well in November. Sportsbooks across the state were said to have generated $67.5 million in gross gambling revenue, while mobile betting generated $40.4 million. Both figures showed year-on-year leaps of 64% and 90.6%, respectively.

Decline in Las Vegas Strip revenue has statewide implications

As America’s gambling capital, the Las Vegas Strip plays a key role in the Nevadan gambling industry. Consequently, a decline in its gambling revenue has far-reaching effects on statewide gambling revenue.

Due to several factors, gross gambling revenue generated in the Las Vegas Strip dropped by 4%. Similarly, gross gambling revenue across the state declined despite the growth in some regions.

The good news is that the sports betting industry in the Las Vegas Strip and across Nevada offers a silver lining. It continued to thrive despite the decline in other sectors in November 2024.