Nevada GGR Drops 7% in July, Largest YoY Decline in Two Years

By Jane Shaw Senior Editor Updated: 09/09/2024

Jane Shaw Senior Editor See Full Bio

We count on Jane to inform our readers about the latest slot games in the US market. With her passion for video games and a degree in engineering, she’s our gambling tech expert. Jane’s also active in our blog section, where she tackles the curiosities and changes in the industry.

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Nevada GGR Drops 7% in July

July’s report from the Nevada Gaming Control Board (NGCB) shows a gross gambling revenue (GGR) of $1.3 billion across the state, a decrease of 7% year-over-year. July marked the 41st consecutive month with over a billion in GGR for Nevada, but it doesn’t seem very good compared to last year’s $1.4 billion for the same month.

The NGCB reports that GGR’s decline of $97 million year-over-year in July was the largest since November 2022, which experienced a $100 million drop from November 2021.

Las Vegas Strip Sees Significant Revenue Drop

Surprisingly, the most notable revenue drop was on the Las Vegas Strip. The most popular gaming street worldwide posted $709 million in GGR, which is 15% down from last year. There was an important drop (30%) in table games, with baccarat losing 66%, unlike in recent years. Despite this, blackjack and craps saw gains of 7.6% and 7.2%, bringing in $117 million and $43.2 million respectively.

The slots market on the Strip shows better results, with a GGR of $297.5, an increase of 23.5%, the NGCB reports. The situation statewide is also good. Multidenominational slots saw a 22.7% revenue increase, totaling $630 million. However, other categories like penny slots and dollar slots saw declines.

The summer slump is notable when considering that Atlantic City, the other casino hub in the US, also saw a marked GGR drop-off in July (-6.1%). Those results sparked new debates about revenue cannibalization, as New Jersey’s iGaming revenue of $195m was a 26% jump from last July.

– Jess Marquez, iGaming Business

It’s important to note that this phenomenon is observed not only in Nevada but also in New Jersey. Atlantic City also saw a 6.1% drop-off in July. Yet, the Garden State’s iGaming revenue is up 26% from last year, which creates polemics about revenue cannibalization, one of the reasons why online casinos haven’t been legalized in the Silver State.

Southern Nevada Sees Gains While Northern Markets Struggle in July

Unlike the Strip, Downtown Las Vegas and the Boulder Strip saw gains, respectively, of 10% and 8%. Southern Nevada markets also showed a big increase, scoring up 19% with $171 million in GDR. The year-over-year reports show a minimum of 6% growth every month.

July was less successful for the northern half of the state. Every market except North Lake Tahoe remained flat or experienced year-over-year declines. However, with $3.6 million, North Lake Tahoe is by far the smallest market recorded by the NGCB. Reno ($69.2 million) and Sparks ($15.2 million) saw decreases of 4% and 11%, respectively. The biggest increase in revenue is for sportsbooks, up by 2% from last year. Out of $25.8 million, $19 million came from mobile betting – a 38% increase from last year.