Las Vegas Strip Revenue Slips In January, Despite Higher Betting Volume
Gaming revenue in the Las Vegas Strip region dipped slightly at the start of the year, but a closer look at the numbers shows that gamblers are coming and betting big, though casinos are not reaping the rewards to the same extent.
The performance also comes at a time when many players continue to explore alternatives such as the best online casinos, highlighting how competition across retail and digital channels remains strong.
According to the Nevada Gaming Control Board, gaming revenue in the region in January was $747.7million, down by 11% from the same month in 2025 and by $92.4m.
However, this does not reflect a drop in gaming volume, as this actually increased in several categories.
Strip table games generated $311.6m, a 25% drop from a year earlier, but the amount wagered climbed 10.3% to $2.4billion. The difference came down to hold percentage, which fell to 13.1% from 18.9% last year, meaning players kept more of their money.
Slots Revenue Rises
Baccarat told a similar story, with revenue from the game standing at $118.5m, down nearly 45% year-over-year. Yet betting volume surged 14.3% to $910.9m. The hold percentage was 13%, roughly half of last year’s 26.9%, explaining the revenue gap.
Slots, meanwhile, offered a brighter headline. Strip slot revenue rose 2.8% to $436m, while the total amount wagered jumped 7.1% to $5.2bn. The slot hold edged down slightly to 8.4% from 8.8% last year, but the increased play offset the lower percentage.
The continued strength of slot wagering mirrors broader trends seen across digital gaming platforms, where players actively seek out the best online slots for competitive payouts and immersive features.
Statewide, Nevada casinos posted $1.34bn in total gaming revenue for January, down 6.6% from the previous year.
Even so, the comparison comes against strong prior-year performance, as January 2025 was significantly higher than 2024 levels.
"Gaming revenue in the Las Vegas Strip region dipped slightly at the start of the year, but a closer look at the numbers shows that gamblers are coming and betting big, though casinos are not reaping the rewards to the same extent."
Mobile Use Up
Sports betting followed the broader trend of solid volume but lower hold. Nevada sportsbooks reported $64.5m in revenue, down 11.1% year over year.
Wagers totaled $795.2m, essentially flat compared to last January. Mobile betting continued to dominate, accounting for 70.7% of all wagers at $562.5m, up 5.4%.
Beyond the Strip, results were mixed across Southern Nevada. Downtown Las Vegas posted $79.4m in total, down 5.2%, though table game income rose modestly.
North Las Vegas saw gains, with the total climbing 4.8% to $25m. The Boulder Strip declined 7%, while Mesquite stood out with an all-time high of $19.8m, up 14.1%.
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Betting Activity Strong
In Washoe County, covering the Reno-Sparks area, total revenue rose 4.2% to $93.9m. In the region, Reno went up 2.9%, while Sparks increased 10.5%. South Lake Tahoe recorded a good rise of 10.3%, and Elko recorded a double-digit increase of 12.9%.
The January report presents a complex picture for the start of 2026. While revenue on the strip declined, betting activity remains strong.
The impact of hold percentages, especially those on baccarat games, was significant on the overall revenue.
However, the increase in wagering volume, fueled primarily by slots and mobile sports betting, is a positive indication of consumer engagement. It remains to be seen if the increased volume translates into revenue growth in the coming months.
