## Nevada Gaming Revenue Surges in January ##
According to data from the Nevada Gaming Control Board released on February 27, the state reported $1.43 billion in gross gaming revenue (GGR) for January. This marks a 12.5% increase compared to the previous year and is the second-highest monthly total ever recorded, just behind last December’s $1.46 billion.
In positive news for the industry, the Las Vegas Strip ended a streak of six consecutive months of year-on-year decreases. America’s gaming capital reported $840 million in GGR, an impressive 22.4% increase from the previous year. January became its third-best month in history, following the two prior Decembers. Despite earlier challenges, this strong performance lifted the Strip to just -1.6% for the fiscal year so far.
In contrast to previous trends, downtown Las Vegas experienced a 2% year-on-year decrease in GGR to $83.7 million, while the Las Vegas locals market remained stable at $170.6 million. Despite a lackluster January, downtown Las Vegas is still up 3% for the fiscal year, and the locals market is up 8%, making it the top-performing market in the state.
## Baccarat Fuels January Surge ##
A closer look at the Strip reveals the key driver of the January resurgence—baccarat. Baccarat GGR reached $214.2 million, a substantial 121% increase year-on-year. Since early last year, fluctuating baccarat performance has caused significant variations in the Strip’s overall results. In January, the GGR from baccarat alone was greater than that of any other market in its entirety.
Over the past 12 months, the Strip has earned $1.48 billion from baccarat, but the month-to-month volatility resulted in flat performance from the previous period. Additionally, craps (+11% YoY) and roulette (+35%) contributed to robust table game revenues overall, totaling $415.6 million, a 45.6% increase.
While the Strip’s slot performance was positive, the increase was more modest. The GGR for slots reached $424 million, marking a 6% rise from last year.
## Strong Start for Northern Markets ##
January was a strong month for Nevada’s northern markets overall. The region often experiences volatility during the winter months, as weather patterns significantly impact revenue.
Reno led with a GGR of $67 million, a 2.5% increase year-on-year, and is now slightly up by 1.3% for the fiscal year. Almost all other markets in the region showed year-on-year gains, including Sparks (+3%) and the Carson Valley (+7%). Wendover’s 14% rise propelled Elko County to a GGR of $32.6 million.
South Lake Tahoe saw the second-best performance in the state after the Strip, with a GGR of $22.2 million—a 22.3% increase. The market is now up 1.4% for the fiscal year.
## Successful Month for Wagering ##
State sports betting also demonstrated volatility similar to baccarat, but January started 2025 on a high note with $72.6 million in GGR, a 12% increase from the previous year. Of this, $42.7 million came via mobile betting, a 42% increase.
On the Strip, sports betting GGR was up 18% year-on-year to $33.6 million, with approximately half ($17 million) derived from mobile betting—a 97% rise.
January and February, driven by the NFL playoffs and Super Bowl, are typically key months for sports betting performance. However, Nevada law mandates in-person registration for mobile betting, a restriction that hinders major national platforms without retail locations from operating in the state.
The year started with a significant boost for Nevada gaming, with the state achieving its second-best monthly total ever, led by the Las Vegas Strip.