Nevada Gaming Revenue December 2025 Falls as Strip Revenue Declines

Nevada gaming revenue December 2025 declined as weaker results on the Las Vegas Strip outweighed gains across most other markets, based on data from the Nevada Gaming Control Board. Statewide gaming win reached nearly $1.44 billion for the month, down 1.55% year over year.

The Las Vegas Strip recorded the steepest decline among major submarkets, while local and regional casinos continued to post growth, highlighting a widening performance gap across the state and pointing to broader dynamics across the wider US casino market.

Despite the monthly dip, December marked the 58th consecutive month in which statewide gaming win exceeded $1 billion. Nevada also ended 2025 with modest annual growth, pointing to continued long-term recovery even as Strip results softened late in the year.

Las Vegas Strip Revenue Drops More Than 6%

The Las Vegas Strip recorded the steepest decline among major submarkets. Strip casinos generated $827.7 million in gaming win in December, a year-over-year drop of more than 6%.

Lower hold rates weighed on results across key games. Total games win on the Strip fell 5% to $366.6 million. Baccarat win declined 20.7% to $156.4 million despite higher betting volume, while slot coin-in reached a record $6.4 billion even as slot win slipped 6.9%.

The Strip’s downturn pulled Clark County’s total gaming win down 2.21% to $1.26 billion for the month.

Clark County Locals Markets Outperform

Outside the Strip, Clark County markets delivered solid gains. Downtown Las Vegas reported $86.1 million in gaming win, up 4.7% year over year. North Las Vegas increased 5.3% to $26.6 million, while the Boulder Strip rose 9.3% to $95.7 million.

Laughlin and Mesquite also posted strong results, with gaming win climbing 9.8% and 11.7% respectively. The balance of Clark County recorded a 4.2% increase, underscoring continued strength in local and regional casino play.

Northern Nevada Shows Mixed Performance

Northern Nevada results were mixed in December. Washoe County gaming win edged up 1.5% to $91.4 million, although Reno casinos saw a slight 1.6% decline.

South Lake Tahoe delivered one of the stronger performances statewide, with gaming win rising 7.47% to more than $20.8 million. Elko County posted a modest increase of about 2%. North Shore Lake Tahoe remained the only reported market down on both calendar-year and fiscal-year bases.

Sports Betting Win Surges Despite Lower Handle

Sports betting delivered a sharp rebound in December, with Nevada casino and sportsbook operators reporting $67.6 million in win, driven by stronger hold percentages compared with a year earlier.

Total betting handle declined 9.1% to $746.7 million. Mobile wagering continued to dominate the market, accounting for 72.5% of all bets placed statewide during the month.

Gaming Tax Collections Dip Slightly

The state collected nearly $88.5 million in percentage fees during December, a 2.26% year-over-year decline. For the fiscal year to date, gaming tax collections exceeded $601.8 million, up 3.78% compared with the same period last year.

Nevada Ends 2025 with Annual Growth

Despite the December slowdown, Nevada finished 2025 with a 1.2% increase in total gaming revenue. The Las Vegas Strip ended the year 0.3% higher overall, even after its late-year decline.

Statewide gaming win in December remained roughly 36% above pre-pandemic levels from December 2019, reinforcing the industry’s longer-term recovery while highlighting continued volatility on the Strip.