June 2024 Was The Most Profitable June For Las Vegas Casinos Ever
The month of June was a scorcher here in Las Vegas. However, it wasn’t just the temperatures that were sizzling, but also the earnings at Las Vegas casinos! The Nevada Gaming Control Board has reported that the month of June 2024 was the most profitable June for Las Vegas casinos ever, according to an article by Fox 5. Throughout the month, Las Vegas casinos brought in a total revenue of $1.286 billion, with strip properties contributing a whopping $758.6 million to the number! It also makes this year’s month of June the 8th-highest earning month for the Las Vegas Strip!
The month of June also concluded the 2024 fiscal year for Nevada casinos and casinos in our state generated a record-setting $15.7 billion, up over 4% from the previous year. Again, strip properties played a huge role in 2024’s success story, contributing $9.1 billion out of the total. Strip casinos also saw an even larger bump from the previous year, up 6% from 2023’s fiscal year.
Las Vegas Casinos Have Been Increased Room Rates Too
While all of this news is great for our local economy, it might not be so great for your wallet, especially if you’ve been planning on taking a staycation at a local casino property. According to a report by 8 News Now (KLAS – Las Vegas) the Las Vegas Convention and Visitors Authority has revealed that it’s more expensive to book a room these days than it used to be. The average rate for a room in June 2024 was $186.91, which is an $11.37 jump from June 2023.
Supply and demand should also be considered when looking at the bump in room rates too. This year’s closure of the Tropicana and the rebranding of the Mirage into the Hard Rock have impacted room inventory on the Las Vegas Strip.
It’ll be interesting to see how the new Hard Rock affects these numbers when it opens in 2027.