Vegas Casinos Rake In Record Gambling Revenue, Proves The House Doesn't Lose
Las Vegas casinos continue to print money like it's going out of style.
There's an old saying in Las Vegas:
"Those multi-billion dollar resorts and casinos weren't built by winners."
All those beautiful properties tourists enjoy so much were built by massive gambling revenue when people throw down cash and lose.
We've all been there. You're sitting at the blackjack table on a heater, things are going well and next thing you know, you've lost a few thousand dollars. The casino smiles and takes your cash.
It's a story as old as time, and Sin City casinos really cashed in at the end of 2023.
Las Vegas casinos take in record amount of revenue. (Photo by Smith Collection/Gado/Getty Images)
Las Vegas casinos earn record gambling revenue.
Las Vegas casinos on The Strip generated a record $905.4 million in December 2023, and casinos in Clark County combined for more than $1.269 billion in revenue, according to 8NewsNow.
The entire state generated more than $1.432 billion in revenue in the final month of 2023. Casinos aren't just winning.
The house is winning in a huge way, and revenue has literally never been higher.
Casinos on The Strip in Las Vegas brought in north of $900 million in gambling revenue in December 2023. (Photo by George Rose/Getty Images)
Not only is the house winning, but Vegas has never been hotter as a city. It's absolutely exploding with the addition of a new mega-resort - the Fontainebleau -, F1 was in town, the Super Bowl will be there at the end of next week and it's clear momentum isn't slowing down.
In fact, the exact opposite is true. Las Vegas is on fire with growth and interest. It's hard to imagine February won't set a new gambling record as the city is flooded with visitors for the Chiefs/49ers game.
How much money will the city make? That remains to be seen, but expect huge numbers. Hit me with your thoughts on Las Vegas at David.Hookstead@outkick.com. I always enjoy chopping it up when it comes to Sin City.