{"id":3313,"date":"2024-04-26T14:02:11","date_gmt":"2024-04-26T14:02:11","guid":{"rendered":"https:\/\/www.casinousa.com\/news\/?p=3313"},"modified":"2024-04-26T14:02:11","modified_gmt":"2024-04-26T14:02:11","slug":"nevada-gaming-industry-stalls-in-march-with-year-on-year-drop-in-revenues","status":"publish","type":"post","link":"https:\/\/www.casinousa.com\/news\/nevada-gaming-industry-stalls-in-march-with-year-on-year-drop-in-revenues","title":{"rendered":"Nevada Gaming Industry Stalls in March with YoY Drop in Revenues"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.casinousa.com\/news\/wp-content\/uploads\/sites\/2\/2016\/12\/nevada.jpg\" title=\"Nevada Gaming Industry Stalls in March with YoY Drop in Revenues\" alt=\"Nevada\" class=\"alignright size-full wp-image-631\" width=\"300\" \/><strong>Summary<\/strong><\/p>\n<ul>\n<li>March marked the end of an eight-month streak of gaming revenue increases. <\/li>\n<li>Numbers fell 1.65% for March 2023 totals.  <\/li>\n<li>The Las Vegas Strip reported over $715 million in earnings.  <\/li>\n<\/ul>\n<p>Nevada is not doing so hot when it comes to gaming revenues, at least for the month of March. The <strong>Nevada Gaming Control Board<\/strong> recently released the monthly revenue totals, showing the state generated $1.29 billion for the month. <\/p>\n<p>While this is a huge amount, it is a year-over-year decrease from 2023. The state saw a 1.65% decline, which marked the <a href=\"https:\/\/www.casinousa.com\/news\/nevada-june-gaming-revenue-totals-decrease-2-4-percent-year-on-year\">first drop in eight months since June 2023<\/a> of increasing earnings. <\/p>\n<h2 id=\"more-details-on-earnings\">More Details on Earnings<\/h2>\n<p>The <strong>Las Vegas Strip<\/strong> brought in just over $715 million, which was a 1.2% decline from last year. Despite the drop, the Strip is up 2.5% for 2024. Local casinos brought in over $270 million for March, a 0.4% increase from last year. The local venues are also up 2.4% for the year. <\/p>\n<p><strong>Downtown Las Vegas<\/strong> and the <strong>Boulder Strip<\/strong> areas saw the biggest losses for March, dropping considerably from YoY totals. Downtown was 12.8% less than 2023, with $76.1 million in earnings. The Downtown area is not doing well in 2024, with a 3.4% decrease so far this year. <\/p>\n<p>The Boulder Strip brought in just over $78 million, a 9.2% decline. <strong>North Las Vegas<\/strong> was in a similar situation, with a 4.1% decrease and only $25.7 million in earnings. <\/p>\n<h2 id=\"boosted-visitor-totals\">Boosted Visitor Totals <\/h2>\n<p>Although <a href=\"https:\/\/gaming.nv.gov\/uploadedFiles\/gamingnvgov\/content\/about\/gaming-revenue\/2024Mar-gri.pdf\">overall earnings<\/a> decreased for the month, visitor numbers were up slightly. The Las Vegas Convention and Visitors Authority reported that 3.67 million people traveled to the area in March, a 0.4% increase from last year. College basketball events before March Madness likely helped push the total to new levels. <\/p>\n<p>Unfortunately, convention attendance was down 37%. <strong>Hotel occupancy reached just over 85%, down three points from last year<\/strong>. Due to lower numbers, revenue per room decreased. <\/p>\n<p>For the Strip, hotel occupancy was 88.3%, a huge decline of over 90% from last year. Downtown dropped by over 76%, with a 69.3% rate. <\/p>\n<p>Events helped to boost travel rates somewhat, with musical acts like New Edition and <a href=\"https:\/\/www.mgmresorts.com\/en\/entertainment\/t-mobile-arena\/madonna.html\">Madonna<\/a> offering shows in Las Vegas. The National Rugby League and NASCAR were in town to help boost overall totals. <\/p>\n<h2 id=\"game-earnings\">Game Earnings <\/h2>\n<p>The Las Vegas Strip reported a slot win total of over $401 million, a 5% drop. <a href=\"https:\/\/www.casinousa.com\/games\/baccarat\">Baccarat<\/a> on the Strip typically performs well, with March bringing in $111.6 million, a jump of over $45 million from last year. <\/p>\n<p>Sports betting brought in $29.8 million for sportsbooks, a decrease of 32.1%. It is unclear why sports betting dropped so significantly for the month. <\/p>\n","protected":false},"excerpt":{"rendered":"Summary March marked the end of an eight-month streak of gaming revenue increases. Numbers fell 1.65% for March 2023 totals. The Las Vegas Strip reported over $715 million in earnings. Nevada is not doing so hot when it comes to gaming revenues, at least for the month of March. The Nevada Gaming Control Board recently [&hellip;]","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,6,5],"tags":[],"class_list":["post-3313","post","type-post","status-publish","format-standard","hentry","category-news","category-financial","category-industry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nevada Gaming Industry Stalls in March with YoY Drop in Revenues<\/title>\n<meta name=\"description\" content=\"Nevada&#039;s casino revenues declined year over year in March after earning $1.29 billion for the month.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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