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California Casinos Win Big With Slots

"…For men and women like Warren who enjoy a little breathing space with their gambling, recent revenue estimates indicate finding quiet time at California casinos is an increasingly difficult prospect.

"The apparent imbalance between demand for more slots and limitations on the number of devices will likely be debated in March when tribal leaders and state officials renegotiate the constraints of the tribal/state gaming compacts.

"…Because tribal governments don't disclose casino revenue figures to the public, exact numbers are almost impossible to obtain.

"But the most recent attempt shows that, on average, slot machines statewide are busier than the most lucrative slots on the Las Vegas Strip.

"…But there is one thing upon which nearly all gaming supporters and detractors agree: the size and potential of tribal gaming growth is determined by the number of slot machines inside the casinos.

"…A study by the economic research firm InteCap, Inc. recently estimated that California casinos hauled in $3.3 billion in revenue in 2001.

"The study also estimated there were 42,000 slot machines in operation and 780 table games in 46 casinos.

"If slot machines produced 70 to 75 percent of the income, a common estimate, that means the average California slot won $150 to $161 for the casino every day.

"…Academic observers and Indian gaming leaders say slots in the state's busiest casinos, like those in the Coachella Valley, San Diego County and western Riverside County, earn much more than the state average.

"By comparison, an average slot among the 47,280 machines on the Las Vegas Strip fetches the casino $116 every day.

"…Experts say the reason individual machines in California outearn those in Las Vegas is basic supply and demand. Some tribal casinos are within a short drive of millions and millions of customers. Unlike Las Vegas, each property is limited by law to no more than 2,000 slots in order to prevent unrestrained growth…"

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