Nevada casinos generated more than $1 billion in revenue in 2022, marking the 22nd straight month the state has reached that number. Earning $1.31 billion from its 434 licensed casinos, that figure represents a 14% year-over-year increase.
Most notably, it was a record month for the Las Vegas Strip, which generated $814.2 million in December. It’s no surprise, then, that Las Vegas Strip December revenue grew 25% year-over-year.
Although – significantly – this is the highest annual percentage increase (14%) recorded by any state when compared to December 2021. With December’s numbers now factored in, Nevada’s total revenue for the year is $ 14.8 billion, an increase of US$ 1.4 billion from the previous year’s final figure.
As stated by the Nevada Board of Gaming Control: “Nevada continued to benefit from growing demand for leisure travel domestically and internationally and a healthy local economy with record levels of employment.”
Positive result from Nevada casinos began to take shape in October 2022
While this annual high for Nevada has not come as a surprise since October 2022, when the state’s record year result began to take shape, it is significant given the adversity faced by the gaming capital of the United States.
The year 2022 has seen an economic recession and cost of living crisis hit most of the US, impacting the pockets of millions with the war in Ukraine, leading to adverse effects in almost every corner of the planet.
This occurred after the beginning of the year, when the last vestiges of the Covid-19 pandemic were still emerging in some areas of the country. However, it’s worth noting that gambling is a unique industry, and often when times are tough, players may play harder in hopes of winning a big payout.
