According to data released by the Nevada Gaming Control Board, the state reported $1.43 billion in gross gaming revenue (GGR) for January, marking a 12.5% increase from the previous year and the second-highest monthly total ever, just behind last December’s $1.46 billion. This leaves the state flat for the fiscal year to date.
In positive news for the industry, the Las Vegas Strip ended its streak of six consecutive months of year-on-year decreases. America’s gaming capital reported $840 million in GGR, a 22.4% increase from the previous year. January was its third-best month of all time, following the two previous Decembers ($905 million in 2023 and $881.2 million in 2024). This robust result brought the Strip to -1.6% for the fiscal year so far, despite previous declines.
Contrary to trends, downtown Las Vegas experienced a 2% year-on-year decrease, totaling $83.7 million, and the Las Vegas locals market remained steady at $170.6 million. These sectors had previously supported the state’s industry amid the Strip’s challenges. Despite a less impressive month, downtown remains +3% for the fiscal year to date, and the locals market is +8%, the strongest performance of any market in the state.
## Baccarat Boosts January Performance
A closer look at the Strip reveals that baccarat was a significant factor in January’s resurgence. Baccarat GGR soared to $214.2 million, a 121% increase year-on-year. Over recent years, fluctuating baccarat performance has led to substantial variations in the Strip’s overall performance. The January GGR for baccarat surpassed any other market’s total earnings.
Over the past 12 months, the Strip has accumulated $1.48 billion from baccarat, though the monthly highs and lows have left this figure flat compared to the previous period. In January, favorable results for craps (+11% YoY) and roulette (+35%) contributed to a strong overall table game performance ($415.6 million, +45.6%).
The Strip’s slot performance was also positive, with a GGR of $424 million, marking a 6% increase from the previous year.
## Northern Markets Begin Year Strong
Overall, Nevada’s northern markets performed exceptionally well in January. The winter months tend to be unpredictable for this region, as weather conditions can significantly affect revenue.
Reno led with a GGR of $67 million, a 2.5% year-on-year increase. The city is now slightly up (+1.3%) for the fiscal year. Nearly all other markets in the region saw year-on-year gains, such as Sparks (+3%) and the Carson Valley (+7%). Wendover’s 14% increase propelled Elko County to a GGR of $32.6 million.
South Lake Tahoe had the second-best performance in the state, following the Strip. Its GGR of $22.2 million represented a 22.3% increase, making the market +1.4% for the fiscal year.
## Strong Month for Sports Betting
Statewide sports betting, much like baccarat, has been highly volatile recently. However, January began 2025 positively with $72.6 million in GGR, a 12% increase from the previous year. Of this, $42.7 million was generated through mobile betting, marking a 42% rise.
On the Strip, sports betting GGR increased 18% year-on-year to $33.6 million. Approximately half ($17 million) came from mobile betting, which saw a 97% boost.
Given the NFL playoffs and Super Bowl, January and February are typically among the highest-performing months for sports betting. However, Nevada’s requirement for in-person registration for mobile betting limits the involvement of national platforms without retail locations.
This year began with a high note for Nevada gaming, with the state posting its second-best monthly total ever, driven by the performance of the Las Vegas Strip.