Gaming win on the Las Vegas Strip fell 11.0% in January to $747.7M on a year-over-year comparison. The report from the Nevada Gaming Control Board once again confirmed that pricing concerns and the sharp decline in international tourism are impacting the Las Vegas Strip. The gambling mecca has now recorded three straight months of a year-over-year gaming win decline.
Statewide gaming win was down 6.6% year-over-year in January to $1.35B. Downtown Las Vegas casinos saw gaming win decrease 5.2% during the month to $79.4 million. Meanwhile, Reno casinos reported gaming win increased 2.9% during the month to $69.1 million.
Across the state, gaming win was up 0.5% for the slot machine business on a win percentage of 7.4%. Table/counter/card game gaming win was down 18.9% on a win percentage of 13.1%. Baccarat revenue plunged 43% during the month.
On a fiscal year-to-date basis (July 2025-January 2026), Nevada gaming win was up only 0.7%, despite an event calendar seen as favorable for conventions and tourism.
Sector watch: Caesars Entertainment (CZR), MGM Resorts (MGM), Boyd Gaming (BYD), Wynn Resorts (WYNN), Full House Resorts (FLL), Bally’s Corporation (BALY), VICI Properties (VICI), Sportradar (SRAD), Genius Sports (GENI), Gaming & Leisure Properties (GLPI), and Red Rock Resorts (RRR).