The Nevada Gaming Commission reported an all-time monthly high of $1.28 billion in casino revenue for January on Thursday, as “The Biggest Little City in the World” made a key contribution to the monthly record.

Statewide year-over-year revenue was up 0.5% from the first month of 2023, though there were some mitigating factors in the small increase. For starters, some tourists may have held off their visit until February when Las Vegas hosted Super Bowl LVIII at Allegiant Stadium. Unlike 2023, the Chinese New Year fell in February as opposed to January, and there were only eight weekend days in 2024 compared to nine the previous year.

But it was Reno to the rescue, as the $65.4 million in winnings represented a 55% increase from January 2023. Slot revenue soared 59.6% to $52.8 million, while table games revenue climbed 38.6% to $12.6 million. The house more than doubled its blackjack winnings from the previous January, claiming $4.5 million while posting a 23.7% hold.

Washoe County, where Reno is located, had a 35.7% year-over-year increase in revenue to $86.6 million, with slot revenue up 36.1% to $72.5 million. The county had $5.2 million in blackjack revenue, an increase of 98%.

The statewide revenue total includes the $64.7 million won by sportsbooks, the fourth-highest total in the post-PASPA era and 28.4% better than the first month of last year. Sports betting handle, however, tumbled 16.3% to $782.7 million.

A stumble to start the year on the Vegas Strip

Revenue on the Las Vegas Strip totaled $686.2 million for January, down 3.8% compared to 2023. Table games were the primary cause for the decline, as the $285.4 million represented a 12.1% downturn. Baccarat was the only major table game to post an increase from 2023, with revenue up 7.4% to $97 million across 25 locations.

Blackjack was a distant second for house winnings at $70.5 million, falling off 24% from 2023. Roulette revenue plunged 47.9% to $21 million, while craps slipped 17.9% to $23.1 million. The Strip made some of those losses back through sports betting revenue, as that $28.5 million was a 35.4% increase.

Casino slot revenue was up 3.1% on the Strip to $400.8 million, with a sharp rise coming from multi-denominational slots. The $263.2 million in revenue was 26.4% higher than the first month of 2023 and counterbalanced a 27.1% drop in penny slot winnings to $87 million. Quarter and dollar slots also had double-digit declines in combining for $36.8 million in revenue.

Blackjack edges baccarat for top revenue spot

Even with an 18.2% decline from 2023, the $98.3 million in blackjack winnings across the state marked the highest source of revenue of any gaming discipline. Baccarat was a very close second at $98 million, with revenue up 8% from 12 months prior.

Pai Gow Poker was the only other identified card game with a year-over-year increase, with revenue more than double to $11.2 million. Undefined card games had a 0.5% increase to $13.2 million.

Elsewhere on the felt, craps revenue totaled $32 million, which was 19.4% lower than January 2023. Roulette winnings dropped 40.7% to $27.4 million, while Ultimate Texas Hold’em poker was the other discipline with an eight-figure revenue total at $16.6 million. That was a soft 2.8% decline from last year.

Overall table games revenue totaled $393.5 million, 7.5% lower than the first month of 2023.

Multi-denomination slots fueled a 4.5% rise in revenue to $885.9 million, with the 74,111 versatile units generating $567.2 million in winnings from $7.59 billion drop.

Penny slots provided $231.8 million in revenue, posting a discipline-best 10.8% hold on $2.15 billion drop and limiting a year-over-year decline to 18.9%. Nickel slots had a modest 4.8% increase to $3.6 million, while both high-end slots — $25 and $100 — had double-digit percentage increases while accounting for $4.4 million in revenue.

The $49.1 million in dollar slots was a 16.4% decline from last year, while quarter slots had a near-similar decline in recording $16.7 million in winnings.

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