Baccarat Keeps Nevada Casinos Profitable in August
It is widely assumed that casinos are money-making machines; whether you’re playing online baccarat or sitting in a Vegas casino, the assumption is that the house always wins. While there is a large amount of truth to this, a closer look at the figures shows that it is often a very close call.
For instance, the gaming industry in Nevada posted a strong August thanks to baccarat. According to the Nevada Gaming Control Board (NGCB), total gaming revenue reached $1.23 billion, up 5.5% year over year, with high-roller baccarat play and mobile sports betting compensating for weaker slot performance and an ongoing decline in visitor numbers.
Baccarat delivered impressive returns, and digital betting surged, generating $116.5 million, a 52.6% increase from the same month last year. On the Las Vegas Strip alone, baccarat revenue nearly doubled to $115.6 million, which helped increase total Strip gaming revenue 2% to $652.1 million. Casinos reported holding an unusually high 18.5% of baccarat bets, nearly double the 10.5% recorded in August 2024, which, according to analysts, amplified the month’s results.
Industry observers said that “Baccarat’s volatility can make or break the Strip’s performance” and pointed to the game’s large contribution to July’s 79% annual gain and its continued dominance in August.
Strong Baccarat, Weak Slots
Table games and card games overall brought in $411.8 million, up 12.6%, while mobile sports betting nearly doubled to $29.4 million, which increased total sports wagering revenue by 68.1% to $42 million. By contrast, penny slot revenue dropped 31.2% to $93.1 million, though multi-denomination slot machines climbed 14.2% to $508.5 million.
Clark County, which includes the Strip, accounted for $1.03 billion of statewide gaming revenue, a 5.3% increase. Regional markets outside Clark County also did well: Washoe County (home to Reno) rose 7.4%, South Lake Tahoe jumped 21.5%, and Mesquite grew 9.9%. Only Elko County saw a slight decline, down 0.8%.
Visitor Numbers Continue to Fall
The gains came despite another sharp drop in Las Vegas tourism. Visitor volume fell 12% year-on-year in July, and airline passenger traffic through Harry Reid International Airport was down 5% in the same period. Analysts say these declines, alongside an 8.5% drop in revenue per available room (RevPAR) through August, are a sign of weakness in the city’s leisure and international markets.
To try to counter the fall in tourism, the Las Vegas Convention and Visitors Authority (LVCVA) launched a five-day promotional event offering more than 100 deals on dining and entertainment following its new “Welcome to Fabulous Las Vegas” campaign.
Industry reaction to the campaign was mixed. Gaming writer John Mehaffey said the discounts helped “sell some room inventory that would have otherwise gone unoccupied”, while journalist Rob Kachelriess argued that the offers were “a somewhat uninspiring choice between the ‘meh’ and ‘maybe’.”
Despite these concerns, tourism officials remain upbeat. LVCVA CEO Steve Hill said, “I’m betting on Vegas. Las Vegas is still the entertainment capital of the world. We’re all confident in the future of this city”.
Outlook for the Rest of 2025
There are several major events, including the NFL and college football seasons, the MLB playoffs, and November’s Formula One Las Vegas Grand Prix, expected to attract crowds before the end of the year.
Las Vegas-based consultant Brendan Bussmann has called perspective amid the volatility. “This is about the marathon and not the sprint”, he said. “We need to direct those efforts to changing the narrative and talking about all of the good things going on in the destination”.
With baccarat boosting Nevada gaming revenue, casinos are maintaining momentum even as tourism struggles. However, whether the high-roller trend can sustain the Strip’s success throughout the rest of the year may depend on how quickly visitation returns to form.
