Nevada Achieves Milestone: Gambling Revenue Surpasses $1.3 Billion in October

October 2023 saw a strong 3.1% YoY revenue increase to $1.32 billion in Nevada's gambling industry, surpassing the same month in 2022 and becoming the best October in the state's history. The milestone is a result of multi-denomination slots, baccarat, and an increase in sports pool betting, with the Las Vegas Strip being crucial to the whole thing.

October Revenue in Nevada: $1.32 billion, Led by Increased Baccarat and Slots

In October of last year, Nevada's gambling revenue increased by 3.1% over the previous month. The main contributors to this growth were sports pool betting, baccarat, and multi-denomination slots.

Revenue in Nevada surpassed $1.27 billion in September of this year by 3.9%, and it will surpass $1.28 billion in October of 2022. It was also the state market's highest-ever October revenue total in its history. 

Slot machines generated $894.9 million in revenue in October, which was the majority of the money made. This was 2.0% more than the same month the previous year.

The highest revenue was generated by multi-denomination slots, which brought in $527.8 million for the month—a 16.3% increase. Coincidentally, earnings for the majority of other slot machine games decreased; for example, penny slots saw an 11.7% decline to $271.9 million.

Table Games in Nevada: Blackjack Drops 12.6%, Baccarat Rises 35.3%

Data from the Nevada Gaming Control Board revealed that earnings from table, counter, and card games increased by 4.2% to $420.3 million. The baccarat segment's continued growth, which saw revenue rise by 35.3% to $89.8 million, helped with this.

Blackjack, or 21, was the main source of income for table, counter, and card games. Nevertheless, revenue from these games dropped to $114.1 million, a 12.6% yearly drop.

Roulette revenue climbed 8.2% to $40.4 million and 4.2% to $34.5 million. Three-card poker saw a 5.6% decline in revenue to $10.0 million in October, while Ultimate Texas Hold'em saw a 13.9% decline to $13.5 million.

October Sports Pool in Nevada: Football Leaders, Mobile Wagering at $35.1M

Sports pool betting is also available in Nevada's table, counter, and card game sections. Revenue rose by 19.8% from the prior year to $61.1 million. 

Football wagering brought in $48.3 million for sports pools in October. The three main revenue streams were baseball ($9.5 million), ice hockey ($2.2 million), and basketball ($3.2 million). Another $1.5 million went toward parlay cards, and the remaining $3.5 million went toward other sports.

The Nevada Gaming Control Board reports that in October, mobile betting brought in $35.1 million of the sports pool's total revenue.

October Revenue Surge is Led by the Las Vegas Strip

With a 54.3% revenue share, the Las Vegas Strip is leading Nevada's gambling boom in October. The Las Vegas Strip outperformed last year by 1.2% in October, taking home more than half (54.3%) of Nevada's gaming revenue. Despite a slight dip of 1.1% in slot revenue, the Strip witnessed a 4.4% increase in table, counter, and card game revenue, notably fueled by $89.8 million in baccarat and $87.3 million from blackjack.

Category Gambling News

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