Las Vegas Strip fuels state’s $1.27 billion casino win

Greg Haas
·2 min read
4

LAS VEGAS (KLAS) — Casinos on the Las Vegas Strip were on a hot streak in September, winning 11% more than in August and about 7% more than September 2022, according to the Nevada Gaming Control Board (GCB).

Baccarat carried Strip casinos as slot wins dropped for the second straight month.

“The Las Vegas Strip benefited from a baccarat win amount of $147.4 million (up 87.8% or $68.9 million) which accounted for 20.0% of the Strip’s total win in September,” according to Michael Lawton, the GCB’s senior economic analyst. “If you excluded baccarat from the Strip’s total, gaming win on the Las Vegas Strip would have decreased by 3.4% or $20.8 million.”

The Strip pulled in $741 million for the month, the majority of the $1.27 billion gaming win posted for the entire state. It could be just the start of better things to come for the Las Vegas economy, with highly anticipated openings of Durango Casino and Resort (Nov. 19) and Fontainebleau (Dec. 13) just around the corner. The Las Vegas Grand Prix (Nov. 18) and Super Bowl LVIII (Feb. 11) are expected to provide plenty of action.

September’s gaming win report showed month-to-month drops at locals casinos, but the Strip easily covered numbers that were down on the Boulder Strip, downtown and the “balance of Clark County.”

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Laughlin also posted a good September, up nearly 6.5% over a year ago and up nearly 21% over August.

The pace for fiscal 2023 is 2.9% ahead of last year statewide, and 5.5% ahead on the Strip. The fiscal year begins in July.

A cyber attack on MGM Resorts International caused chaos as the casino giant shut down systems in an effort to protect customer data. MGM estimated the attack cost resorts $100 million.

The Sphere’s Sept. 29 opening grabbed a lot of attention from both locals and tourists, and several other premiere sports and entertainment events brought crowds to Las Vegas. Lawton listed some of those events:

  • Weekends with Adele at the Colosseum at Caesars Palace (Sept. 1-30)

  • Lady Gaga at Park MGM (Sept. 2-10, 28-30)

  • Jonas Brothers at MGM Grand Garden Arena (Sept. 8)

  • UFC Fight Night at T-Mobile Arena (Sept. 16)

  • Las Vegas Raiders home opener at Allegiant Stadium against the Pittsburgh Steelers (Sept. 24)

  • Canelo Alvarez vs. Jermell Charlo at T-Mobile Arena (Sept. 30)

Nevada collected $77.6 million in percentage fees (through Oct. 30), based upon the taxable revenues generated in September — a 3.59% (or $2,889,724) decrease compared to October 2022, when percentage fee collections were $80.5 million.

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