Nevada Gaming Failed to Replicate Last Year’s Success in November  

Even the second edition of Formula 1 Las Vegas Grand Prix didn’t help Sin City casinos and halls as the Nevada Gaming Control Board has reported a slight drop in state gaming revenue for November.

The State Failed to Surpass the November 2023 Dream

According to the NGCB, gaming venues across Nevada reached $1.13 billion in revenue for November, down 4.2% year-on-year. While revenue from most verticals remained stable, slot gaming plummeted by 7% to $810.6 million, affecting the overall result.

Other verticals, including sports betting, table gaming, bingo and keno, reported a total revenue of $505.9 million, which was more or less in line with the results reported in November 2023.

This was notably the second month in a row, in which Nevada’s gaming industry reported a decline in revenue. Experts analyzed the drop in slot gaming, attributing it to the seemingly suboptimal performance of gaming halls and casinos in Southern Nevada, the F1 impact and the difficult comparison to November 2023.

Speaking of Southern Nevada, the Las Vegas Strip revenue experienced a 3.9% drop to $788.7 million as table gaming was down 5%. Many Vegas areas outside the Strip, however, saw their revenues soar but were unable to offset declines in other key markets.  

Lack of F1 Hype and Difficult Comparison to Blame

The blame for the year-on-year decline was partially attributed to the lack of enthusiasm for the second edition of the Las Vegas Grand Prix. Whereas the first edition of the race attracted many high rollers from all over the world, this year’s race failed to replicate the hype.

Still, the Las Vegas Convention and Visitors Authority insisted that the race had a beneficial impact on the economy, attracting some 145K visitors. However, the race has remained somewhat controversial amid opposition from local businesses.

Michael Lawton, senior economic analyst at the board, noted that the comparison with November 2023 was a difficult one, since that month had the third-highest win in the history of Nevada. He added that if the industry hadn’t been impacted by unfavorable slot revenue timing, Nevada would have actually recorded a year-on-year hike.

For context, November ended on a Saturday, meaning that this weekend’s activity will be reported in the December report.

Vegas Players Won Big

In the meantime, 2025 seems to be off to a good start for Las Vegas players who have kicked the year off with several noteworthy jackpot wins. One of the most recent such wins saw a guest from Sacramento scoop up a life-changing $481,941.47 prize.

Others won prizes ranging from $10,000 to $60,000.

This followed an earlier wave of wins right at the beginning of the year that saw several seven-figure jackpot wins.

In the meantime, players in Mississippi are awaiting a potentially favorable jackpot period as progressive jackpots across casinos ripen.