Nevada’s casinos have entered 2025 with a strong performance, achieving their second-best-ever monthly total of $1.43 billion in January. This marks a 12.5% increase from last year. The Strip contributed significantly, generating its third-best-ever total with a GGR of $840 million, up from $686 million in January 2024.
January’s impressive results marked the end of six consecutive monthly year-on-year declines on the Strip. The best-ever casino revenue on the Strip was recorded in December 2023 with $905.3 million.
The Nevada Gaming Control Board attributed the substantial increase to a remarkable 121% rise in revenues from baccarat on the Strip, which amounted to $214.3 million in January. Without baccarat, the increase was only 3.7% or $43.3 million.
Michael Lawton, a senior economic analyst with the Gaming Control Board, noted the volatility in baccarat results due to the limited number of tables—441 in 31 locations across Nevada. Because the game is played by a small group of high-stakes customers, it can lead to significant fluctuations in revenue. In January, baccarat’s win amount was the fourth highest total ever, with a hold percentage of 26.47% compared to 16.13% last year.
Slot play on The Strip reached $424.4 million, a 5.9% increase or $23.7 million more than before. Table gaming saw a 33.2% increase, totaling $524.1 million. Nevada sportsbooks earned $72.6 million, up by 12.1%.
Other markets showing growth include North Las Vegas, where casino results rose by 5.3% to $23.8 million. Mesquite increased by 9.7% to $17.3 million, Reno increased by 2.5% to $67 million, Sparks rose by 3.3% to $13.5 million, and South Lake Tahoe generated $22.2 million, up 22.3%.
Regions experiencing declines in January included Downtown Las Vegas, where casino revenue fell by 2.2% to $83.7 million. The Boulder Strip’s casinos produced $87.3 million, a decrease of 6.2%. Laughlin’s numbers were down by 4.9% to $42.2 million, and North Lake Tahoe saw an 11.1% decline to $1.9 million.
Overall, Nevada’s casinos continue to show resilience, overcoming previous declines with significant contributions from baccarat.