Nevada
Nevada Casinos Report Net Income of $3.44B in Fiscal Year 2023
Posted on: February 17, 2024, 11:34h.
Last updated on: February 17, 2024, 11:34h.
Nevada casinos generated record revenue of $29.86 billion during the state’s 2023 fiscal year, but net income slid because of billowing inflation, interest, and overall administrative costs.
The Nevada Gaming Control Board (NGCB) on Friday unveiled the 2023 Gaming Abstract for the 12 months ending June 30, 2023.
During the fiscal year, 300 casinos grossed at least $1 million on their gaming floors. Only casinos that generated over $1 million in gross gaming revenue (GGR) are included in the annual report that provides a financial analysis of the state’s nonrestricted gaming licenses.
The nearly $30 billion in revenue includes gaming win and sales from hotel rooms, food and beverage, entertainment, spa services, and other resort attractions. Gaming represented about 37% of the revenue, or $10.92 billion.
On the $29.86 billion in sales — 8.9% higher than the 2022 fiscal year — the 300 casinos reported net income of $3.44 billion. Net income dropped over 21%, with higher borrowing rates, labor, and materials and goods costs blamed for the decline.
Net income refers to the amount of revenue retained by the casinos after expenses have been paid but before federal income taxes are deducted and extraordinary expenses are covered.
2023 Still Solid
Nevada casinos experienced their second-best financial year in 2023, as 2022 was a banner performance.
Clark County, home to Las Vegas, accounted for the most revenue at $26.86 billion, which was a 9.5% year-over-year increase. Net income for Southern Nevada casinos was $3 billion, a 21% drop but the market’s second-best year.
Strip casinos generated $20.48 billion of the revenue and $1.37 billion of the net income. Downtown casinos reported revenue of $1.55 billion and net income of $259.17 million. While Strip casinos saw net income slide almost 34%, downtown resorts said net income fell 4%.
Every metered area in the state report incurred a net income decline from the 2022 fiscal year. But each market still reported positive net income aside from Lake Tahoe’s South Shore.
The positive net income came despite interest expenses surging 23% to nearly $449 million, rent increases of 70%, or $248 million, and general expenses climbing 17% to $613 million.
2024 Outlook
Nevada casino execs aren’t expecting costs to subside anytime soon, so revenue must continue to increase. Many expect that to happen, including MGM Resorts International President and CEO Bill Hornbuckle.
2023 was an amazing year. We’ve got some headwinds, particularly with labor costs, but there’s enough programming and enough momentum that we think we surpass,” Hornbuckle said on the company’s earnings call last week.
Last fall, the Culinary Union that represents resort workers up and down the Strip struck new labor terms with several casino operators, including MGM, Caesars Entertainment, and Wynn Resorts. Some 50,000 Las Vegas casino employees are receiving wage increases as a result of the new five-year union contracts.
The 12 months in 2023 were a record year for Nevada casinos, as GGR climbed to a new high of $15.5 billion. Union leaders successfully campaigned that their members deserved a bigger piece of the financial pie by way of increased pay and more robust benefits.
LAS VEGAS, NV- The Las Vegas Rotary Club, in conjunction with Rotary Clubs throughout Southern Nevada, will host a community pickleball fundraiser in support of End Polio Now, Rotary International’s global effort to eradicate polio. The event will take place on Saturday, February 7th, from 1 to 4 p.m. at Chicken N Pickle Henderson, located at 3381 St. Rose Parkway.
The non-competitive, social event is chaired by Janice Lencke, president of the Las Vegas Rotary Club, on behalf of Rotary District 5300, which serves Southern Nevada and parts of California. The event invites players of all experience levels to come together for an afternoon of pickleball, fellowship and charitable giving, with proceeds benefiting Rotary’s polio eradication efforts.
“The Rotary Clubs of Southern Nevada, together with District 5300, are uniting to host this event to raise awareness and move one step closer to writing the final chapter in polio’s story—an ending marked by eradication,” said Janice Lencke. “Let’s finish what we started and #EndPolio for good.”
Rotary International is a founding partner of the Global Polio Eradication Initiative, which was launched in 1988. Since that time, Rotary’s advocacy, fundraising and volunteer efforts have helped reduce polio cases worldwide by more than 99.9 percent, bringing the world closer than ever to eliminating the disease entirely. Polio eradication remains Rotary’s primary humanitarian focus and one of its most sustained global commitments.
General admission tickets include pickleball court access, lunch and sodas, one alcoholic drink ticket, a commemorative photo, one raffle ticket and free parking. Sponsorship opportunities are also available for businesses and individuals who want to support the cause.
District 5300 is promoting the event throughout Southern Nevada, with additional outreach across California to encourage regional participation in similar events.
ABOUT ROTARY INTERNATIONAL AND THE LAS VEGAS ROTARY CLUB
Rotary International is a worldwide fellowship and service organization with 1.2 million members in 200 countries, with 32,000 clubs. Established in 1923 as part of Rotary International, the Las Vegas Rotary Club is the first and largest Rotary Club in Las Vegas. The Las Vegas Rotary Club meets for lunch and fellowship every Thursday at Lawry’s The Prime Rib. To learn more about the Club and service projects, visit https://lasvegasrotary.com.
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Nevada
Travel Nevada Presents The Neon in Nature Series, Featuring Artwork by DARIUSTWIN, at the Nevada State Museum, Las Vegas, January 15 – April 6, 2026
Nevada Division of Tourism
Unique exhibition marks DARIUSTWIN’s first museum show in the U.S.
LAS VEGAS, NV / ACCESS Newswire / January 8, 2026 / Travel Nevada is proud to present The Neon in Nature Series, which features artwork by light painting photographer and animator Darren Pearson (better known as DARIUSTWIN)at the Nevada State Museum, Las Vegas, beginning January 15, 2026. The exhibition is DARIUSTWIN’s first U.S. museum show. To celebrate the exhibition opening, Travel Nevada will pay admission fees for the first 200 guests to arrive directly at the Nevada State Museum, Las Vegas on Thursday, January 15, 2026.
Created exclusively in Nevada, The Neon in Nature Series captures just some of the stunning landscapes and striking night skies that you’ll find in Nevada when you get a little out there – all juxtaposed with DARIUSTWIN’s signature light paintings infused with and inspired by Nevada character (and characters). The exhibition will inspire museum guests to visit the Nevada ghost towns, state parks, historical landmarks, and more that take center stage in this unique, vibrant, and whimsical exhibition.
“Nevada’s diverse surroundings and dark night skies provided an ideal backdrop to compose this series,” said DARIUSTWIN. “I’m grateful to the Travel Nevada team for commissioning the work and to the Nevada State Museum, Las Vegas, for housing my very first museum exhibition in the country. I’m hopeful that it will encourage museum guests to travel throughout Nevada, which I found was so rich in history and ripe with adventure opportunities.”
“When the Travel Nevada team first saw DARIUSTWIN’s work, we immediately knew that a partnership with him would inspire people to get a little out there in the state. The Neon in Nature Series is a creative take on what makes Nevada special,” said Rafael Villanueva, chief executive officer of Travel Nevada. “Additionally, we’re thrilled that this exhibition will be housed in the Nevada State Museum, Las Vegas. We share a mission with the museum to enhance the quality of life for Nevada’s visitors and residents, and what better place to host The Neon in Nature series than a city whose history is intertwined with neon?”
The Neon in Nature Series, Presented by Travel Nevada will be on view at the Nevada State Museum, Las Vegas through April 6, 2026.
“The Nevada State Museum, Las Vegas is delighted to host this art- and Nevada-focused installation by DARIUSTWIN,” said Hollis J. Gillespie, director of the Nevada State Museum, Las Vegas. “The Neon in Nature Series exemplifies our mission of educating the public about the history and natural history of the state, and it does so in an electrifying way. We look forward to sharing it with our visitors.”
EDITORS: Select high-resolution images from The Neon in Nature Series, Presented by Travel Nevada are available here. Photo credit for all images: “Photo courtesy of Travel Nevada/DARIUSTWIN. ©️ 2024 DARIUSTWIN.”
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About Travel Nevada
The heart of Nevada shines through Travel Nevada, an organization focused on sharing the experiences, landmarks and living legends that make the Silver State a one-of-a-kind destination. Through community collaborations and strategic partnerships, we aim to connect with both locals and visitors alike, showcasing the sometimes-surprising, always-exciting treasures that keep people coming to Nevada. It’s theirs to explore-and ours to safekeep, from preserving our wild-at-heart way of life to our wide-open spaces. For more information, visit TravelNevada.com.
About the Nevada State Museum, Las Vegas
Founded in 1982, the mission of the Nevada State Museum, Las Vegas, serves to educate a diverse public about the history and natural history of Nevada. The museum collects, preserves, exhibits, and disseminates material that contributes to an understanding and appreciation of the state. For more information, visit https://www.lasvegasnvmuseum.org/
About DARIUSTWIN
Darren Pearson, known as DARIUSTWIN, is a light painting photographer and animator whose glowing creations have illuminated landscapes around the world. Using long-exposure photography and custom crafted LED lights, Darren “paints” with light in real time, creating skeletal figures, dinosaurs, aliens, and fantastical characters that exist for only a moment before disappearing into the night. His work has been featured by National Geographic, Intel, Honda, and Apple, among others.
Based in Southern California, Darren has been creating light paintings for more than a decade, transforming the ordinary into the extraordinary, one exposure at a time. See more at dariustwin.com and follow @dariustwin.
Contact:
Tracie Barnthouse, Chief Communications Officer
tbarnthouse@travelnevada.com; 775-624-0618
SOURCE: Nevada Division of Tourism
View the original press release on ACCESS Newswire
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RENO, Nev. (Nevada Athletics) – Nevada Women’s Basketball won its second straight game Wednesday night, getting a thrilling 70-60 overtime win against Wyoming at Lawlor Events Center.
Reigning Old Trapper Mountain West Freshman of the Week Skylar Durley led the Pack (6-9, 2-3 MW) in scoring with 18 points and led both teams in rebounds with a career high 14, recording her first double-double of her career.
Ahrray Young went 5-for-10 from the field for 11 points to go with eight boards.
Nevada’s resilience in the latter part of the fourth, which was punctuated by a key block from Young, forced the game into overtime.
The Pack’s shutdown defense held Wyoming (4-10, 1-4 MW) at bay in the final five, only allowing one point off of a free throw.
On the other end, the offense of Nevada went on a 6-0 run and shot 83.3 percent from the field.
Nevada outscored Wyoming 11-1 and held the Cowgirls without a field goal in OT.
The Pack opened regulation in perfect fashion, shooting a 7-for-7 from the field, 2-for-2 from three and 2-for-2 from the line in the first five minutes of action.
Nevada had a 10-0 run that was capitalized by holding Wyoming to a two-and-a-half minute scoring drought.
Through the first quarter, Nevada shot 64.3 percent and remained perfect from both deep and free throws.
Nevada’s hot start simmered in the second, only getting six points and closing the quarter on a field goal drought of just under four minutes.
Meanwhile, Wyoming’s shooting improved from the first, closing the gap to two.
Despite the slower quarter, Nevada carried its lead into the second half, 45-41.
The third quarter was nearly even, Nevada only shooting slightly better and outscoring Wyoming, 15-14.
The game stayed close through the fourth with three ties and four lead changes, leading to extra time.
As a team, the Pack outrebounded the Cowgirls, 40-28, and had 24 bench points to their six.
Nevada will hit the road and look to even its conference record as it faces New Mexico Saturday at 12 p.m.
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