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Best of Howard Stutz

Gaming Guru

Howard Stutz
 

Nevada gaming revenues slip slightly in April; Reno outpaces Las Vegas

10 June 2013

LAS VEGAS -- Nevada gaming revenues fell less than 1 percent in April as a jump in figures from the Reno market helped offset a loss on the Strip.

The Nevada State Gaming Control Board Gaming Commission said Monday that gaming revenues collected by casinos statewide were $854.3 million, down 0.16 percent compared with $855.7 million collected in April 2012.

On the Strip, gaming revenues fell 2.34 percent to $448.6 million, compared with $459.4 million in the same month a year ago.

However, gaming revenues in Reno grew 15.36 percent to $44.1 million, compared with $38.3 million in April 2012. Reno’s casino market has hurt over the past few years by the recession and lost business to Northern California Indian casinos.

The statewide decline ended two straight months of increased gaming revenue reports.

Clark County as a whole saw gaming revenues decline by just less than 1 percent. The Strip’s decline, along with a 7 percent drop in gaming revenues downtown and an 11.45 percent drop in North Las Vegas, were offset by an 11.48 percent hike in Laughlin and a 5.77 percent increase along the Boulder Strip, which includes Henderson.

Washoe County gaming revenues on a whole grew 10 percent. South Lake Tahoe casinos saw gaming revenues increase 14.48 percent.

Gaming tax collections in May, based on April’s gaming revenues, declined 2.78 percent to $47.2 million. For the first 11 months of the fiscal year, gaming tax collections are up 3.25 percent.