Las Vegas Strip casinos less profitable in 2023

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While casinos on the Las Vegas Strip and in Nevada as a whole were profitable in 2023, profits declined double-digits from the prior year, according to the 2023 Nevada Gaming Abstract.

Net income from Las Vegas Strip casinos fell 33.6 per cent to $1.377bn, while total revenues rose 11.6 per cent. Gaming revenues specifically, slipped 2.3 per cent.

Statewide, casino profits fell 21.4 per cent to $3.441bn as revenues rose 8.9 per cent. Gaming revenues inched down 1 per cent.

Downtown casinos saw profits fall 3.9 per cent to $259.176m.

Other highlights of the report include that there were 300 casinos in Nevada that grossed more than $1m or more in gaming revenue last year.

Gaming revenue accounted for 36.6 per cent of total revenues generated by those 300 casinos.

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54 casinos owned by public companies accounted for 64.4 per cent of the total gaming revenue generated statewide last year.

Reno/Sparks casino profits fell 41.3 per cent. Total revenues rose 5.7 per cent and gaming revenue was up 2.4 per cent.

Source: Fantini’s Gaming Report

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