Beyond the shimmering lights and iconic jackpot rings, the Las Vegas casino industry demonstrated staggering economic force in 2023, generating a record $20.5 billion in total Strip revenue and supporting over 195,000 local jobs while welcoming 40.8 million visitors.
Key Takeaways
- In fiscal year 2023, the Las Vegas Strip casinos reported a total gaming revenue of $8.87 billion, marking a 5.7% increase from 2022.
- Clark County non-restricted gaming win reached $11.2 billion in 2023, up 6.2% year-over-year.
- Downtown Las Vegas gaming revenue totaled $1.01 billion in 2023, a 4.1% rise from the previous year.
- The Las Vegas casino industry employed 195,000 full-time equivalents in 2023.
- Strip resorts supported 150,000 jobs in gaming and hospitality in 2023.
- Nevada gaming industry total employment was 322,000 in 2023, with 60% in Las Vegas.
- Las Vegas welcomed 40.8 million visitors in 2023.
- Strip visitor volume was 27.5 million in 2023.
- International visitors to Las Vegas numbered 1.8 million in 2023.
- Nevada slot machines numbered 200,000 statewide in 2023, mostly Las Vegas.
- Las Vegas Strip had 85,000 slot machines in operation in 2023.
- Table games on the Strip totaled 5,200 in 2023.
- Casino market share of MGM Resorts was 28% on Strip in 2023.
- Caesars Entertainment held 22% Strip market share in 2023.
- Wynn Resorts revenue grew 12% to $6.5 billion in 2023.
Las Vegas casinos hit record revenues in 2023, driven by a surge in visitors and spending.
Employment Statistics
- The Las Vegas casino industry employed 195,000 full-time equivalents in 2023.
- Strip resorts supported 150,000 jobs in gaming and hospitality in 2023.
- Nevada gaming industry total employment was 322,000 in 2023, with 60% in Las Vegas.
- Dealers on the Las Vegas Strip numbered over 25,000 in 2023.
- Hotel staff in Clark County casinos totaled 110,000 in 2023.
- Culinary Union membership reached 60,000 workers in Las Vegas casinos in 2023.
- Average hourly wage for casino dealers in Las Vegas was $22.50 in 2023.
- Security personnel in Nevada casinos numbered 18,000 in 2023.
- Slot attendants employed 12,000 across Las Vegas properties in 2023.
- Management positions in gaming industry grew 3% to 15,000 in 2023.
- Bartenders and servers in casinos totaled 45,000 in 2023.
- Housekeeping staff for Strip hotels was 28,000 strong in 2023.
- Entertainment staff including performers employed 8,500 in 2023.
- Valet and parking staff numbered 4,200 in Las Vegas casinos in 2023.
- Marketing and promotions staff in casinos was 6,000 in 2023.
- IT and tech support roles in gaming reached 5,500 in 2023.
- Maintenance and engineering staff totaled 10,000 across properties in 2023.
- Human resources departments employed 2,800 in Las Vegas casinos in 2023.
- Finance and accounting roles numbered 7,200 in 2023.
- Guest services staff was 22,000 in 2023.
- Training programs trained 12,000 new employees in 2023.
- Turnover rate in casino employment was 45% in 2023.
- Union contracts covered 85% of Strip workforce in 2023.
- Average benefits package value per employee was $15,000 annually in 2023.
- Female employees comprised 52% of casino workforce in 2023.
- Minority representation in employment reached 48% in 2023.
Employment Statistics Interpretation
It takes a small city's worth of people—from dealers to housekeepers to security—working around the clock and dealing with a churn rate that would give a roulette wheel vertigo just to keep the neon lit and the slots chiming.
Gaming Operations
- Nevada slot machines numbered 200,000 statewide in 2023, mostly Las Vegas.
- Las Vegas Strip had 85,000 slot machines in operation in 2023.
- Table games on the Strip totaled 5,200 in 2023.
- Average slot hold percentage was 8.2% on the Strip in 2023.
- Baccarat drop on Strip was $12.5 billion in 2023.
- Blackjack tables generated $45 billion in drop in 2023.
- Sports betting kiosks exceeded 1,200 on the Strip in 2023.
- Poker revenue on Strip was $320 million in 2023.
- Number of licensed gaming establishments in Clark County was 211 in 2023.
- Average table win per unit day on Strip was $12,500 in 2023.
- Coin-in on slots statewide was $242 billion in 2023.
- High-limit slots contributed 15% of win in 2023.
- Roulette tables numbered 1,100 on Strip in 2023.
- Craps drop was $8.2 billion in 2023.
- Video poker hold was 7.5% average in Las Vegas in 2023.
- Mobile sports betting apps handled 40% of wagers in 2023.
- Number of race books was 125 in Nevada in 2023.
- Pai Gow tables grew 10% to 450 in 2023.
- Average daily slot handles per machine was $3,300 in 2023.
- Interactive gaming stations numbered 2,500 in 2023.
- Ultimate Texas Hold'em popularity led to 300 tables in 2023.
- Keno revenue was $45 million in 2023.
- Stadium wagering areas expanded to 15 on Strip in 2023.
- Electronic table games reached 1,800 units in 2023.
- Blackjack drop hold was 2.3% on Strip in 2023.
- Baccarat win percentage averaged 14.5% in 2023.
- Total gaming positions on Strip exceeded 90,000 in 2023.
- Sports win was $68 million statewide in 2023.
- Online poker cash game volume up 12% in 2023.
Gaming Operations Interpretation
Las Vegas has perfected a silent, statistically-driven extraction of wealth, where 200,000 slot machines whisper "just one more spin" while high-stakes baccarat tables quietly pocket a 14.5% win from a $12.5 billion drop, proving the house doesn't just win—it meticulously accounts for every last cent.
Market Trends
- Casino market share of MGM Resorts was 28% on Strip in 2023.
- Caesars Entertainment held 22% Strip market share in 2023.
- Wynn Resorts revenue grew 12% to $6.5 billion in 2023.
- New resort Sphere opened boosting entertainment trends in 2023.
- Sports betting legalization expanded partnerships with 20+ operators in 2023.
- Non-gaming diversification now 60% of revenue in 2023.
- Online gaming market projected to grow 20% annually post-2023.
- Construction of new resorts delayed to 2026 amid trends.
- ESG initiatives adopted by 80% of major operators in 2023.
- Crypto payments piloted at 5 casinos in 2023.
- AI surveillance systems in 95% of properties by 2023.
- Post-pandemic recovery reached 105% of 2019 levels in 2023.
- Locals market growth slowed to 2% amid economic pressures 2023.
- High-roller baccarat volumes up 15% from Asia rebound 2023.
- Formula 1 Grand Prix added 250,000 visitors boosting trends.
- Sustainability efforts reduced water use 25% by 2023.
- Contactless tech in 90% of transactions in 2023.
- Employee retention programs invested $100M in 2023.
- Market concentration top 6 operators 85% share in 2023.
- Expansion to durables like retail up 10% YoY 2023.
Market Trends Interpretation
Even as the traditional titans like MGM and Caesars carve up the Strip, the real jackpot is coming from bets placed far from the tables, with non-gaming ventures, online expansion, and Formula 1-fueled spectacle proving that Las Vegas is no longer just a casino town.
Revenue Statistics
- In fiscal year 2023, the Las Vegas Strip casinos reported a total gaming revenue of $8.87 billion, marking a 5.7% increase from 2022.
- Clark County non-restricted gaming win reached $11.2 billion in 2023, up 6.2% year-over-year.
- Downtown Las Vegas gaming revenue totaled $1.01 billion in 2023, a 4.1% rise from the previous year.
- Nevada's overall gaming revenue hit a record $15.59 billion in 2023, with Las Vegas accounting for over 70%.
- Slot machine win on the Strip was $6.58 billion in 2023, comprising 74% of total gaming revenue.
- Table games generated $2.11 billion in revenue on the Las Vegas Strip during 2023.
- The Las Vegas locals' market gaming win was $3.46 billion in 2023, up 2.8% from 2022.
- Hotel room revenue in Las Vegas reached $7.6 billion in 2023, driven by 73% occupancy.
- Food and beverage revenue for Strip casinos exceeded $2.1 billion in 2023.
- Total non-gaming revenue for Nevada casinos was $12.4 billion in 2023, with Las Vegas dominant.
- Laughlin gaming revenue stood at $581 million in 2023, a slight 0.9% increase.
- Mesquite casinos generated $183 million in gaming win for 2023.
- Nevada sports wagering handle reached $6.81 billion in 2023, much on Las Vegas books.
- Online gaming revenue in Nevada was $215 million in 2023.
- Boulder Highway gaming win totaled $781 million in 2023.
- Strip casino taxable revenue was $9.58 billion in 2023 after deductions.
- Gaming taxes paid by Las Vegas casinos exceeded $650 million in 2023.
- Per room revenue for Strip resorts averaged $1.2 million in 2023.
- Non-gaming amenities contributed 44% to total Strip revenue in 2023.
- Convention revenue in Las Vegas hit $2.8 billion in 2023.
- Retail sales in Strip casinos reached $1.4 billion in 2023.
- Entertainment ticket sales generated $850 million for Las Vegas venues in 2023.
- Parking revenue at Las Vegas casinos was $120 million in 2023.
- Spa and salon revenue on the Strip totaled $450 million in 2023.
- Golf course revenue from casino resorts was $75 million in 2023.
- Nightclub revenue peaked at $650 million pre-pandemic but recovered to $520 million in 2023.
- Total Strip casino revenue including all sources was $20.5 billion in 2023.
- Average daily room rate on the Strip was $236 in 2023.
- Occupancy rate for Las Vegas hotels averaged 83.2% in 2023.
Revenue Statistics Interpretation
Las Vegas deftly proves that while the slots and tables are the irresistible siren song luring guests in, the real jackpot is ringing up billions from their hotel rooms, dinners, and even parking spots once they’re comfortably trapped.
Visitor Statistics
- Las Vegas welcomed 40.8 million visitors in 2023.
- Strip visitor volume was 27.5 million in 2023.
- International visitors to Las Vegas numbered 1.8 million in 2023.
- Average length of stay for visitors was 3.7 nights in 2023.
- Hotel room nights sold totaled 33.2 million in Clark County in 2023.
- Convention attendance reached 5.1 million in 2023.
- Domestic visitors from California were 25% of total at 10.2 million in 2023.
- Air arrivals to Las Vegas airports hit 57.3 million passengers in 2023.
- Repeat visitors accounted for 68% of total in 2023.
- Visitor spending averaged $1,147 per trip in 2023.
- Gaming as percentage of visitor spending was 28% in 2023.
- Hotel spending per visitor was $312 in 2023.
- Food and beverage spend averaged $240 per visitor in 2023.
- Shopping expenditure by visitors was $112 per trip in 2023.
- Entertainment spending reached $96 per visitor in 2023.
- January 2023 saw 3.58 million visitors, highest ever for the month.
- December 2023 visitor count was 3.63 million.
- Weekend occupancy peaked at 95% on the Strip in 2023.
- Business travelers were 22% of visitors in 2023.
- Leisure travelers dominated at 78% in 2023.
- Drive-in visitors numbered 12.4 million in 2023.
- Fly-in visitors were 28.4 million in 2023.
- Total visitor spending in Las Vegas was $47.1 billion in 2023.
- First-time visitors were 32% in 2023.
- Peak month July 2023 had 3.53 million visitors.
Visitor Statistics Interpretation
Las Vegas continues to master the art of extraction, hosting over 40 million visitors who, on average, part with over a thousand dollars each, proving that the real house edge isn't just in the casino pit but in the entire city's magnetic, money-melting ecosystem.
Sources & References
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