Nevada gaming flat in April amid tariff, visitation uncertainty
April showcased a landscape of challenges for Nevada’s gaming industry, yet it displayed resilience in the face of adversity, particularly on the Strip.
Amidst economic uncertainties and tariff announcements, the Nevada gaming sector recorded a gross gaming revenue (GGR) of $1.23 billion in April, as reported by the Nevada Gaming Control Board. This figure remained stable year-on-year, although the state has experienced a 1% decline in revenue for the fiscal year thus far.
The Las Vegas Strip generated a GGR of $646.8 million, reflecting a nearly 3% decrease compared to the previous year. This decline marks the third consecutive month of downturn and the eighth in the last nine months. Following a streak of record-breaking performances post-COVID, the Strip has seen a 3.3% drop in GGR for fiscal year 2025.
Interestingly, baccarat—a vital indicator of the Strip’s performance—witnessed a remarkable 41% year-on-year increase, totaling $108.3 million. Despite this robust monthly performance, the Strip is down 27% for baccarat over the past three months and 15% over the last year, revealing the complexities within the market.
In contrast, Downtown Las Vegas recorded GGR of $83.6 million, an increase of 1%, while the local market maintained flat revenue at $164 million. Ancillary markets, such as Boulder, North Las Vegas, and Mesquite, experienced growth exceeding 4%. Notably, Downtown and the local market remain ahead of the year-to-date averages, up by 3% and 5.5%, respectively, solidifying their positions as the strongest performers among major markets.
Reno Drives Northern Performance
Reno proved to be a bright spot, posting a GGR of $64.7 million, a robust increase of 9%. This surge was sufficient to uplift Washoe County’s overall performance, even as other areas in the county faced monthly declines.
Year-to-date, Washoe County remains stable, buoyed solely by Reno’s growth, which is up by 2% since the beginning of the fiscal year.
Nevada’s sportsbooks rebounded with a GGR of $42.5 million, marking a notable recovery from a disappointing March and a striking 38% increase Year-over-Year (YoY). Mobile betting accounted for $33.1 million of this total, reflecting a 35% increase from last year. While March Madness negatively impacted basketball wagering, the ongoing NBA playoffs contributed favorably, resulting in a 51% increase in GGR from basketball betting, reaching $20.9 million in April.
Mixed Visitor Data Insights
Amidst ongoing concerns surrounding tariffs and trade wars’ impact on Nevada, the most critical apprehension has been centered on tourism and visitor numbers. According to the Las Vegas Convention and Visitors Authority, total visitor volume in Las Vegas dropped to 3.3 million in April, down 5%. However, convention attendance saw a positive trend with a 14% increase YoY.
Overall occupancy rates in the city fell by 1%, remaining flat on the Strip—a finding that aligns with many executives’ reassurances expressed during first-quarter earnings calls.
Additionally, passenger volume at Harry Reid International Airport declined by 3%, totaling 4.7 million travelers. Conversely, daily auto traffic across highways increased by 5%, averaging around 140,000 vehicles.
In summary, while April posed its challenges for Nevada’s gaming landscape, the market’s adaptability and diverse revenue streams provided concrete foundations for ongoing growth and recovery.
