June data on gaming, visitation, and overall economic performance in Nevada reveals mostly stagnant numbers as the fiscal year closed. According to the Nevada Gaming Control Board, the state's gross gaming revenue amounted to $1.34 billion last month, reflecting a slight year-over-year increase of 0.8%. For the entire fiscal year, the total reached $16 billion, marking a growth of approximately 2.5% compared to the previous year.
On the Las Vegas Strip, gross gaming revenue for June was $754.6 million, representing a 1% decline from the same month last year. However, the Strip recovered from a downturn last fiscal year, ultimately achieving a 2% growth to $8.9 billion overall. A significant factor contributing to the June drop was baccarat, where revenue fell by 20% year-over-year to $102.7 million.
Several markets within southern Nevada saw positive performance this fiscal year. Mesquite reported the most substantial growth with a 6.6% increase to $207 million, followed by North Las Vegas (+4%), the Boulder Strip (+3.6%), and downtown Las Vegas (+3%). Both the Boulder Strip and downtown completed the year with gross gaming revenues near the $1 billion mark, while the locals market in Las Vegas remained stable around $2 billion.
Visitor statistics from the Las Vegas Convention and Visitors Authority showed that June attendance held steady at 3 million, although a robust conference lineup led to a 25% uptick in that segment. The overall hotel occupancy rate stayed unchanged at 78%, while both average daily rates and revenue per available room on the Strip dropped around 5%.
Passenger numbers from Harry Reid International Airport are not yet available for June, but cumulative data as of May indicated a decline of 6% year-to-date.
In Reno, however, the gaming sector performed exceptionally well in June, continuing a strong fiscal year. The city posted a gross gaming revenue of $81.6 million in June, a remarkable 20% increase year-over-year, positioning it as the top performer of the markets monitored by the Gaming Control Board. Over the fiscal year, Reno recorded a 7% growth in gaming revenue, totaling $825.3 million.
Tourism in the Reno-Tahoe region has surged dramatically this year, marked by a 4% increase in spring air traffic, according to announcements from Reno-Tahoe International Airport. The passenger counts for April and May were the highest recorded in almost 20 years. Additionally, the taxable room revenue in Reno for the first quarter reached $106 million, setting a record for the city.
As the market evolves, notable changes are anticipated. Caesars Entertainment, which has been headquartered in Reno following its acquisition by Eldorado Resorts in 2020, is relocating its base to Houston under Fertitta Entertainment. Caesars owns three properties in downtown Reno: the Eldorado, Silver Legacy, and Circus Circus.
Meanwhile, other operators are investing significantly in expansion, such as the Grand Sierra Resort, which is set to initiate a multi-phase $1 billion project, and the J Resort, which recently finished a $400 million first phase of renovations.
