While the slot machines on the Las Vegas Strip raked in a staggering $6.23 billion last year, the city's true jackpot is the broader entertainment empire it fuels, from sold-out residencies grossing hundreds of millions to conventions drawing millions more.
Key Takeaways
- In fiscal year 2023, the Las Vegas Strip casinos generated a total gaming revenue of $8.85 billion, marking a 6.7% increase from 2022
- Nevada's statewide gaming win reached $15.52 billion in 2023, with Clark County accounting for 73% of the total at $11.34 billion
- Slot machine revenue on the Las Vegas Strip in 2023 totaled $6.23 billion, representing 70.4% of total Strip gaming revenue
- Cirque du Soleil's "O" show at Bellagio had 1,200 performances since 1998, attracting over 15 million viewers by 2023
- The Sphere venue hosted 191 shows in its first year 2023, with ticket sales exceeding 800,000
- U2's residency at The Sphere in 2023-2024 sold out 40 shows, grossing over $200 million
- Las Vegas Convention Center hosted 1.5 million attendees for events in 2023
- CES 2024 at Las Vegas drew 130,000+ attendees from 150 countries
- Total convention space in Las Vegas exceeds 11 million sq ft, with 90% utilized in 2023
- Las Vegas hotel occupancy reached 89.2% in 2023, highest since 2019
- Total visitor volume to Las Vegas was 40.82 million in 2023, up 4.6% from 2022
- Average daily room rate (ADR) on the Strip hit $237.08 in 2023
- Gaming employment in Clark County totaled 203,000 jobs in 2023
- Total visitor industry employment 413,000 in Southern Nevada 2023
- Gaming sector contributed $14.5 billion to Nevada GDP in 2023
Las Vegas saw record gaming and tourism growth in 2023, led by strong casino revenue and major concerts.
Conventions and Trade Shows
- Las Vegas Convention Center hosted 1.5 million attendees for events in 2023
- CES 2024 at Las Vegas drew 130,000+ attendees from 150 countries
- Total convention space in Las Vegas exceeds 11 million sq ft, with 90% utilized in 2023
- Number of conventions held in 2023 was 22,106, generating $12.4 billion economic impact
- Average convention delegate spending was $1,050 per day in 2023
- Mandalay Bay Convention Center spans 2.1 million sq ft, hosting 1,200 events yearly
- CONEXPO-CON/AGG 2023 attracted 130,000 attendees over 4 days
- Average exhibit space per convention is 250,000 sq ft in Las Vegas
- Trade show exhibitors numbered 5,200 at CES 2024
- Las Vegas hosted 1.47 million convention attendees in Q1 2024 alone
- MGM Grand Garden Arena used for 150+ convention events yearly
- Average convention length is 3.2 days with 1,800 delegates
- SEMA Show 2023 drew 160,000 attendees and 1,100 exhibitors
- Total meeting room space in Las Vegas is 2.5 million sq ft across properties
- NAB Show 2024 expected 90,000+ attendees
- Convention revenue per occupied room night was $245 in 2023
- Number of trade shows in 2023: 1,856
- Average booth cost at Las Vegas trade shows $40 per sq ft in 2023
- EDC Las Vegas 2023 (electronic dance convention-like) had 525,000 attendees over 3 days
- Total group business bookings for 2024 exceed 5 million room nights
- Venetian Expo offers 2.3 million sq ft, renovated in 2021
- Average lead generation per exhibitor at CES: 1,200 contacts
- Las Vegas group market share of visitors 22% in 2023
- Waste Management Open 2023 convention drew 650,000 fans
- ARIA Resort hosted 500+ corporate events in 2023
- Total convention center hotel rooms within 1 mile: 150,000
- Licensing Expo 2023 had 15,000+ attendees from 40 countries
Conventions and Trade Shows Interpretation
While one might come for the spectacle, Las Vegas has masterfully pivoted to a global business hub where, frankly, the real jackpot is the $1,050 a day spent by each of the millions of convention delegates who are far too busy generating billions to be distracted by a slot machine.
Economic Impact and Employment
- Gaming employment in Clark County totaled 203,000 jobs in 2023
- Total visitor industry employment 413,000 in Southern Nevada 2023
- Gaming sector contributed $14.5 billion to Nevada GDP in 2023
- Average gaming wage $45,600 annually in Clark County 2023
- Total economic output from visitors $79.3 billion in 2023
- Tax revenue from gaming $1.1 billion statewide in 2023
- Leisure/hospitality jobs 28% of total Clark County employment 2023
- Dealers employed 18,500 on Strip in 2023
- Unemployment rate in Las Vegas MSA 5.2% in 2023 average
- Total payroll for gaming $9.2 billion in Clark County 2023
- Conventions generated 152,000 jobs in 2023
- Gaming multiplier effect adds $2.50 to economy per $1 revenue
- Food/beverage employment 45,000 in casinos 2023
- Total state/local taxes from visitors $8.9 billion in 2023
- Hotel employment 52,000 in Southern Nevada 2023
- Entertainment jobs 12,300 including performers/tech 2023
- Labor participation rate 62.1% in Las Vegas 2023
- Gaming benefit fund contributions $25 million in 2023 for employee health
- Total non-gaming revenue $40 billion from Strip properties 2023
- Average hotel employee wage $38,200 in 2023
- Induced employment from spending 110,000 jobs in 2023
- Construction jobs from expansions 15,000 average yearly 2023
- Gaming industry charitable contributions $150 million in 2023
- Total MSA GDP $140 billion with entertainment 25% share 2023
- Female employment in gaming 48% of total workforce 2023
- Unionized workers 50,000 in major Strip properties 2023
- Per capita visitor spending $1,885 in 2023
- Direct gaming employment growth 2.1% in 2023
Economic Impact and Employment Interpretation
Behind the dazzling lights and clinking chips, Las Vegas is essentially a corporate city-state with a gambling problem, where nearly one in three workers is a showman, server, or dealer propping up an economic empire that generated $140 billion—proving that what happens here doesn't stay here, it gets multiplied, taxed, and turned into paychecks for half a million people.
Gaming Revenue and Operations
- In fiscal year 2023, the Las Vegas Strip casinos generated a total gaming revenue of $8.85 billion, marking a 6.7% increase from 2022
- Nevada's statewide gaming win reached $15.52 billion in 2023, with Clark County accounting for 73% of the total at $11.34 billion
- Slot machine revenue on the Las Vegas Strip in 2023 totaled $6.23 billion, representing 70.4% of total Strip gaming revenue
- Table games on the Las Vegas Strip contributed $2.62 billion in gaming revenue in 2023, up 8.2% year-over-year
- Downtown Las Vegas gaming revenue hit $857.6 million in 2023, a 4.1% rise from the previous year
- The average daily slot win per unit on the Strip was $1,528 in 2023, compared to $1,412 in 2022
- Baccarat drop on the Las Vegas Strip reached $12.4 billion in 2023, generating $1.18 billion in win
- Sports and race wagering handle in Nevada totaled $6.81 billion in 2023, with win at $521.9 million
- Number of slot machines on the Las Vegas Strip stood at 28,456 in 2023, down 1.2% from 2022
- Table games count on the Strip was 2,947 in 2023, reflecting a 2.5% decline year-over-year
- Gaming taxes paid by Strip casinos amounted to $505.2 million in 2023 under the 6.75% rate
- Laughlin gaming revenue was $512.4 million in 2023, up 3.8% from 2022 levels
- Reno gaming win totaled $795.6 million in 2023, a modest 1.4% increase
- South Lake Tahoe casinos reported $284.3 million in gaming revenue for 2023
- Elko County gaming revenue reached $430.1 million in 2023, driven by slots
- Average table drop per table on the Strip was $1.45 million in 2023
- Blackjack hold percentage on the Strip averaged 2.28% in 2023
- Craps revenue on the Strip was $378.6 million in 2023, up 7.1%
- Roulette win totaled $412.4 million on the Strip in 2023
- Number of Nevada gaming licenses issued was 189 for non-restricted slots in 2023
- Online gaming revenue in Nevada hit $215.4 million in 2023
- Strip casino patrons averaged 1.2 million visits per month in 2023
- Gross gaming revenue per square foot on the Strip was $4,120 in 2023
- Keno and poker revenue combined for $89.7 million on the Strip in 2023
- Number of patrons per gaming table per day on Strip averaged 45 in 2023
- Video poker hold percentage statewide was 7.85% in 2023
- Boulder Strip gaming revenue totaled $1.02 billion in 2023
- Mesquite gaming win was $189.4 million in 2023, up 2.9%
- Total Nevada gaming positions were 212,456 in 2023, dominated by slots
- Strip blackjack drop was $4.23 billion in 2023
Gaming Revenue and Operations Interpretation
While the Strip's tables and baccarat high-rollers provided a thrilling 8.2% surge, the steady, deafening *cha-ching* of its 28,456 slot machines—each quietly vacuuming an average of $1,528 daily—remains the relentless financial heartbeat of Vegas, proving that the house always wins one nickel at a time.
Hotels and Visitor Numbers
- Las Vegas hotel occupancy reached 89.2% in 2023, highest since 2019
- Total visitor volume to Las Vegas was 40.82 million in 2023, up 4.6% from 2022
- Average daily room rate (ADR) on the Strip hit $237.08 in 2023
- Revenue per available room (RevPAR) on Strip was $211.79 in 2023
- Total hotel rooms in Clark County: 154,209 as of 2023
- Downtown Las Vegas occupancy averaged 82.4% in 2023
- Off-Strip occupancy was 84.7% with ADR $142.50 in 2023
- Average length of stay for visitors: 3.7 nights in 2023
- Hotel revenue statewide reached $7.8 billion in 2023
- Number of hotel room nights sold: 42.5 million in 2023
- International visitors comprised 18% of total, or 7.3 million in 2023
- Leisure travelers 78%, business 22% of hotel guests in 2023
- Peak occupancy month December 2023 at 93.2% Strip-wide
- New hotel openings 2023 added 1,200 rooms, like Durango Casino Resort
- Average group room rate $185/night in 2023
- Total visitor spending $76.9 billion in 2023, up 11.5%
- Hotel/motel tax revenue $752 million in 2023
- Repeat visitors 52% of total in 2023 survey
- Air arrivals to Harry Reid Airport: 57.6 million passengers in 2023
- Average party size 2.8 persons per hotel stay in 2023
- Nevada transient lodging tax collected $1.2 billion in FY2023
- Boutique hotels occupancy 87.5% with higher ADR $280 in 2023
- Resort fees averaged $45.22 per night on Strip in 2023
- Total Strip hotel rooms 87,723 in 2023
- Off-peak occupancy low of 76% in January 2023
- Hotel EBITDA margins averaged 32% for major operators in 2023
- Visitor origin: 52% domestic drive-in, 30% fly-in, 18% international 2023
- Average hotel spend per trip $1,150 excluding gaming in 2023
Hotels and Visitor Numbers Interpretation
Clearly, Vegas has perfected the art of making guests pay handsomely to watch their money disappear, with hotels packed at premium prices proving that the real jackpot isn't in the casino—it's on the nightly bill.
Live Shows and Performances
- Cirque du Soleil's "O" show at Bellagio had 1,200 performances since 1998, attracting over 15 million viewers by 2023
- The Sphere venue hosted 191 shows in its first year 2023, with ticket sales exceeding 800,000
- U2's residency at The Sphere in 2023-2024 sold out 40 shows, grossing over $200 million
- David Copperfield's show at MGM Grand performed 1,000+ shows annually, with 4 million+ tickets sold lifetime
- Absinthe at Caesars Palace averaged 95% occupancy in 2023, hosting 500+ performances
- Penn & Teller at Rio had 1,800+ shows by 2023, drawing 3 million attendees
- Jersey Boys residency shows totaled 2,400+ by closure in 2023
- Average ticket price for Strip residencies was $145.30 in 2023, up 12% from 2022
- Total paid show attendance in Las Vegas was 12.5 million in 2022, recovering to 90% pre-pandemic
- Cirque du Soleil's "Mystere" at Treasure Island has run 25,000+ shows since 1993
- Adele's Caesars Palace residency 2022-2023 sold 100+ shows, grossing $187 million
- Magic Mike Live at Sahara averaged 300 shows per year with 85% sell-outs in 2023
- Blue Man Group at Luxor performed 8,000+ shows by 2023
- Average show runtime in Las Vegas is 90 minutes, with 70% featuring production values over $10 million
- Britney Spears' residency 2013-2017 grossed $130 million over 250 shows
- Wakanda Forever immersive show debuted 2023 with 200,000 projected attendees annually
- Average audience size for Strip headliners was 4,500 per show in 2023
- Number of active productions on the Strip exceeded 50 in 2023
- "The Beatles Love" by Cirque has sold 5 million tickets since 2006
- Stake.com's Post Malone residency 2024 planned for 25 shows
- Comedy shows like Carrot Top at Luxor average 400 performances yearly
- Production costs for Sphere shows average $50 million per residency
- Las Vegas show revenue totaled $1.2 billion in 2023
- Number of tribute band shows weekly exceeds 100 in 2023
- Average VIP ticket price for residencies $500+ in 2023
- "MJ Live" Michael Jackson tribute sells 300,000 tickets yearly
Live Shows and Performances Interpretation
Cirque du Soleil’s aquatic alchemy, Adele’s gravitational pull, and U2’s billion-dollar geometry prove Las Vegas is a perpetual motion machine for money, spectacle, and human devotion, where even a card trick can run for thirty years and a magic show is still the surest bet in town.
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