Slot machines, the casino cash cow, generated $10 billion in revenue last year across Nevada. The Las Vegas Strip led the state in revenue last year with $8.28 billion, which is up 17% from $7.96 billion in 2021. Compared to 2019, the number of visitors to Sin City is still down nearly 9%. According to a report by the Las Vegas Convention and Visitors Authority, 38.8 million people came to the city in 2022, up 20.5% since 2021. But the strongest factor was a “steady demand” for gambling, Lawton says, by “resilient customers” who consistently chose to go to Vegas in the face of inflation, recession fears and rising fuel prices.
A stocked events calendar and lingering effects of pandemic stimulus checks helped drive tourists to the Las Vegas. There are several forces that drove Nevada’s record year. The Las Vegas Strip set an all-time monthly record during the last month of the year with $814 million, which is up 25% compared to December 2021.
“December came in much stronger than we had anticipated,” says Lawton. Nevada had actually eclipsed the 2021 record by November 2022, but December was a record-setter as well, with casinos reporting $1.3 billion in revenue.
