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Gaming Guru

Cy Ryan
 

Gaming win falls for ninth straight month

12 November 2008

CARSON CITY, Nevada -- For the ninth straight month, the gaming win fell on the Strip and statewide.

The 41 casinos on the Strip reported a combined gross win of $525.1 million, down 5.1 percent from the same month of a year ago.

Statewide, gaming revenue fell 5.4 percent to $1 billion, before expenses and taxes.

Officials noted that there were no special events during the month and one less full weekend, which hurt sports betting. Also, officials noted, the September 2007 gaming win was "strong."

The state took in $63.5 million in gaming tax revenue in September, $10 million less than the previous year.

"The drop in spending is alarming," said Frank Streshley, senior research specialist of the state Gaming Control Board. "October will be more of the same."

Slot machine winnings on the Strip fell 5.3 percent to $284.5 million. For the past year, casinos on the Strip have reported a drop of 3.6 percent in slot machine win.

Winnings at 21 on the Strip fell 5.7 percent, craps was down 48.1 percent and the sports pool was off 54.6 percent.

About the only bright spot was the baccarat win, which rose 66.6 percent to $75 million on the Strip. Without that, Streshley said, the decline in gross revenue statewide would have been 8 percent.

The 19 casinos in downtown Las Vegas had a gross win of $49 million, off 8.2 percent. Games fell 16.4 percent and slot win was off 5.2 percent. Gamblers bet 15 percent less in the slot machines during the month.

North Las Vegas was one of three bright spots in Clark County. Casinos there won $26.1 million, an 11.2 percent increase. Slot win was up 16.1 percent but games fell 27.7 percent.

Winnings in Laughlin casinos fell 6.9 percent with slots off 3.6 percent and games down 27.4 percent.

The 34 casinos on the Boulder Strip posted $87.5 million in gross win, up 13.9 percent. Slot machines won 17.2 percent more but games were off 4.8 percent.

Mesquite took a nose dive with casino winnings falling 27.8 percent. Slot win dropped 27.3 percent and game revenues were off 32.7 percent.

Casinos in the balance of Clark County, the second largest gaming area in Nevada, posted a 1 percent gain at $110.76 million winnings. Games were off 15.4 percent but slot win rose 4.9 percent.

Every major market in Northern Nevada suffered declines in gaming gross win.

Casino win in Washoe reported winnings of $77 million, off 20.5 percent from a year ago, the largest percentage decline since the 1980s. Slot revenue fell 18.7 percent and game winnings was off 27 percent.

It was the 15th straight month of lower gaming revenue in Washoe County.

South Lake Tahoe casinos won $24.5 million, down 16.8 percent. Slots were off 7.3 percent and games fell 40.8 percent.

Carson City clubs posted $8.5 million in gross win, down 20.6 percent. Slot revenue fell 20.1 percent and games were off 25.4 percent.

Casinos in Elko County reported $24 million in win, down 12.6 percent. Slot revenue dropped 13.5 percent and games declined 6.9 percent.