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Gaming Guru

Cy Ryan
 

Nevada Gaming Win Rises 10 Percent

10 November 2004

CARSON CITY -- For the second straight month, Nevada casinos posted a double-digit increase in their winnings in September, the second largest monthly haul in history.

The state Gaming Control Board reported today the casinos won $924.7 million in gross revenue compared with $840.6 million of a year ago. The win is second only to March this year when the record win was $930 million.

Gov. Kenny Guinn said, "Gaming results across the board were strong in September and not just isolated to Clark County.

"Washoe and Elko counties in particular are now showing signs of an economic turnaround in their gaming economies after declining the past several years," the governor said.

Frank Streshley, senior research analyst for the board, said the De La Hoya-Hopkins fight at the MGM Grand on Sept. 18 drew in high-end players. Statewide, baccarat win was up 45.3 percent to $43.4 million and craps jumped 26.6 percent.

Casinos statewide have posted double-digit increases in six of the past eight months.

Streshley said it is "rare" when every gaming market in the state increases as happened in September.

Winnings or gross revenue is computed before business expenses and taxes are deducted.

The state collected $61.4 million in taxed based on the September win, a 2.9 percent decrease from the prior year. But the collections for this fiscal year so far are 4.3 percent or $9.3 million ahead of the projections made by the Economic Forum.

The 43 casinos along the Las Vegas Strip reported win of $459.4 million, or a 9 percent increase. And downtown Las Vegas clubs produced its biggest increase of the year, reporting $55.8 million in win, up 8.7 percent. The previous high was 7.5 percent in June.

Winnings statewide from slot machines rose 9.4 percent to $639.4 million. Table game revenue increased 10.2 percent to $276.7 million.

The board said the win from blackjack games fell by 0.3 percent, keno was off 4 percent and the sports pool win fell 10 percent. Streshley said September was the opening of the NFL football season and "It was not off to a good start" for the clubs.

Poker continued to report giant increases in winnings, with the state's 537 tables winning $8.6 million, up 58.3 percent.

The Strip casinos reported $258.2 million in slot machine winnings, up 7.9 percent. Game revenue rose 9.7 percent.

The board said winnings from blackjack along the Strip declined by 2.3 percent; craps win rose 35.9 percent; baccarat revenue jumped 46.6 percent; keno win fell 2.5 percent and the sports pool declined by 28.9 percent.

Streshley said the big increases in craps and baccarat reflected the influx of high rollers to attend the championship fight.

The 19 casinos in downtown Las Vegas reported $42.9 million in slot win, up 9.3 percent and $12.1 million from the games, a gain of 4.7 percent.

North Las Vegas casinos produced $22.9 million in gross win, up 8.8 percent. Streshley said this comes on top of a 29 percent increase in September 2003. Slot win rose 6.4 percent and game revenue jumped 28.1 percent.

Laughlin casinos registered $47.4 million in win, up 10.5 percent and the second straight month of a double-digit increase. Slot win rose 11.6 percent and game and table revenue increased 3 percent.

Casinos along the Boulder Strip won $73.6 million, an 11.1 percent increase and that comes on top of a 16 percent gain a year ago. Slot win rose 9.5 percent and games were up 21.8 percent.

Mesquite casinos produced $10 million in winnings, up 13.2 percent. Slot win rose 13.3 percent and game and table revenue increased 10.3 percent.

The balance of Clark County casinos reported $83.9 million in winnings, up 17.8 percent. Slots rose 16.4 percent and game and table win was up 25 percent.

The board said casinos in Washoe County won $92.6 million, up 7.5 percent; South Lake Tahoe clubs produced $36.1 million, up 12.5 percent; Elko County registered $20.5 million in win, up 10.6 percent and the Carson Valley area reported $10.1 million, up 10 percent.