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Nevada Gaming Declines Slightly for March 2024

When is $1.29 billion in gaming revenue considered something of a disappointment? That’s how much Nevada’s gaming industry collected during the month of March and it marks the first time in eight months that year-on-year revenue was down – that’s how good things are going in Nevada these days.

While $1.29 is a pretty good number almost anywhere else on the planet, it was down 1.7 percent from the $1.312 billion that the casinos collected in March 2023. In many ways, March 2023 is something of an unfair marker anyways. Though Nevada, and especially Las Vegas, packs every month with sporting events, concerts and conventions, March 2023 was something special. That month included two nights of Taylor Swift’s Eras Tour at Allegiant Stadium, UFC 285, and a massive construction convention.

One sector that’s been remarkably consistent for Nevada gaming is slot machines and March 2024 was no exception. Slot machines brought in $874.5 million across the state. That accounts for a full 67 percent of the total revenue for the month and was actually up 5.7 percent over February 2024.

Another bright spot was the dizzying rise of high stakes baccarat play. Baccarat brought in $114.7 million during the month thanks to an 18.881 hold percentage compared to just 10.33 in March 2023. That massive disparity says more about the mercurial nature of the game than it does about any casino’s marketing department.

While March 2024 may have been a little disappointing, it also marks the 25th consecutive month that Nevada gaming has topped the monthly $1 billion mark; a trend that doesn’t appear to be losing steam anytime soon.