Nevada gaming revenue falls just shy of $15bn in 2022

Aerial shot of the Las Vegas Strip
Image: Paul C Barranco/Shutterstock

Nevada gaming achieved a new yearly total revenue record in 2022 just shy of $15bn, while also extending its streak of over $1bn in monthly revenue to 22 months in December.

Publishing the Silver State’s December gaming financials, the Nevada Gaming Control Board declared total gaming revenue for the month of $1.3bn, a 14.3% increase year-over-year when compared to December 2021’s $1.15bn, and a 7.67% improvement over November’s $1.2bn.

Gaming operations on the Las Vegas Strip saw a significant uptick in revenue YoY, growing by 25.14% to $814.2m (Dec. 2021: $650.6m).

Adding December’s numbers to the yearly total, Nevada’s new annual gaming revenue record stands at $14.8bn in 2022, after the state beat the previous high set in 2021 of $13.4bn last month with November’s figures.

As expected, slots continue to be the driving force behind the Silver State’s gaming win, but the vertical only grew by 2.17% YoY in December to $803.5m (Dec. 2021: $786.2m), while improving by 8.36% over the entire year to $10bn (2021: $9.2bn).

However, Nevada’s table, counter, and card games – which includes sports betting – saw a much stronger gain, with the vertical rising by 40.54% in December to $511m (Dec. 2021: $363.9m), and by 15.27% over the full year to $4.83bn (2021: $4.19bn).

On its own, sports betting achieved a 245.9% uptick YoY in revenue in December with $55m (Dec. 2021: $16m), with $18.1m coming from mobile sportsbooks, up 595.58% YoY. 

However, the gaming vertical only had a slight increase of 0.34% for the entire year with $446.7m (2021: $445.1m), with $203.2m coming from mobile operations, up 4.61% compared to 2021.

Per sport, football achieved the biggest win in December with $33.7m, followed by basketball ($13.3m), other ($5.1m), and hockey ($3.1m), while baseball made a loss of $1.3m.

Parlay cards reported revenues of $1.2m for the month, while race book parimutuel posted revenues of $2.2m.

Earlier this week, Brian Krolicki was appointed to the Nevada Gaming Commission by the state Governor Joseph Lombardo, replacing Ben Kieckhefer who resigned from the commission to join Lombardo’s team.