Slots drive growth while table games and visitation face pressure
Revenue Recovery After Months of Decline
Nevada’s gaming industry posted a 3.5% year-on-year revenue increase in June 2025, generating $1.3bn, according to figures released by the Nevada Gaming Control Board (NGCB). The rise breaks a three-month streak of revenue declines, offering a temporary reprieve for operators ahead of the second half of the year.
Gross Gaming Revenue (GGR) growth was driven primarily by slot machine performance, offsetting declines in table games. Despite the encouraging numbers, the data comes amid concerns about reduced visitation across the state.
Las Vegas Strip Leads Gains Amid Tourism Slowdown
The Las Vegas Strip, the state’s largest market, recorded a modest 0.9% revenue increase to $765.3m, highlighting a fragile recovery. Downtown Las Vegas fared better with a 10.5% jump to $73.2m, while Clark County overall contributed $1.2bn, up 3.5% year-on-year.
However, figures from the Las Vegas Convention and Visitors Authority (LVCVA) revealed a decline in tourist arrivals, raising questions about whether June’s performance can be sustained without a rebound in visitation. With tourism remaining a critical driver of gaming revenue, the industry may face pressure in the coming quarters.
Slot Machines Outperform as Table Games Decline
Slot machines were the clear winners in June, generating $899.4m, up 9.2% from the previous year. Multi-denomination slots, in particular, surged 21.7% to $680.5m, underscoring their growing appeal among players.
Conversely, table games revenue fell 6.6% to $432.9m, with baccarat down 8.1% to $126.3m. These declines signal shifting player preferences and may encourage operators to adjust floor allocations to maximize returns.
Regional Performance and Sports Betting Surge
Outside Las Vegas, regional markets posted mixed results. Washoe County rose 4.7% to $91.4m, driven by Reno’s 5.6% growth to $67.8m. South Lake Tahoe and Carson Valley also saw gains, while Elko County was the only major market to contract, slipping 0.5% to $32.9m.
Online sports betting emerged as another bright spot, with operator wins soaring 78.4% to $29.9m. Baseball was the biggest contributor at $21.9m, although NFL wagers resulted in $1.2m in losses.
Outlook: Growth Faces Headwinds
While June’s revenue rebound is a positive sign, the overall fiscal year (July 2024–June 2025) closed down 0.8%, reflecting lingering challenges. The industry continues to navigate softer tourism numbers and fluctuations in table game performance.
The NGCB also noted the completion of Apollo Global Management’s $6.3bn acquisition of IGT and Everi in July, a move expected to reshape supplier dynamics and potentially influence future performance trends.
With H2 2025 underway, Nevada’s operators will need to balance marketing efforts, leverage high-performing segments like slots and online betting, and address declining visitation to sustain revenue growth.
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