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Howard Stutz

Nevada gaming revenues fall 13.8 percent

11 August 2009

LAS VEGAS, Nevada –- Nevada gaming revenues sunk in June to their lowest single month total in almost five years.

State casinos collected $818.2 million from customers during the month, a 13.8 percent decline compared with $949.3 million collected in the same month a year ago according to figures released this morning by the Gaming Control Board.

The total, the lowest since July 2004 when casinos won $813 million, was the 18th straight monthly slide as the gaming industry continued to be hampered by the sagging economy.

On the Strip, gaming revenues fell 14.8 percent during June to $414.5 million, compared with $486.4 million last year.

Frank Streshley, chief of the control board's tax and licensing division, said June is traditionally a light month for gaming revenues. The double digit decline, however, was the result of gamblers not spending as much money as they have in the past.

The amount wagered on slot machines was off 10.7 percent while the money bet on table games declined 12.7 percent. Streshley said the $1.8 billion wagered on table games was the lowest single-month total since November 2003.

Gaming revenues suffered double-digit declines in every reporting area of Clark County except for downtown Las Vegas, which saw gaming revenues decline 5.6 percent.

The state collected $45.7 million in gaming taxes based on the June gaming revenues, a 13.5 percent decrease compared with $52.8 million collected during the same time period last year.