Las Vegas Strip casinos less profitable in 2023

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.

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