Nevada casinos report slump in win
A lack of big special events and fewer high-end gamblers figured in a 14 percent drop in the November win for Nevada casinos, to USD 981.1 million, compared with the same month a year earlier, regulators said last week.
The state Gaming Control Board reported that the best evidence of fewer high-rollers was the baccarat win for the casinos in November – down nearly 61 percent. Also, „there was absolutely nothing on the calendar in November“ in the way of major special events, Control Board analyst Frank Streshley said.
That contrasted with November 2006, when gamblers were drawn to Las Vegas by Rolling Stones and Barbra Streisand concerts and a Floyd Mayweather-Carlos Baldomir boxing match.
The USD 981.1 million win was the amount left in casino coffers after gamblers wagered USD 13.5 billion during November, including USD 11.1 billion in slot machine bets and the balance on table games. All major markets in the Las Vegas area had lower wins compared with November 2006. That included the Las Vegas Strip, with a 19.1 percent slump.
In northern Nevada, clubs in Reno were up less than 1 percent while resorts on Lake Tahoe’s south shore were down 3 percent. The only substantial month-over-month gain was in Elko County, in northeastern Nevada, where clubs were up 13.1 percent.
The win for the resorts brought the state’s tax take from the clubs to USD 390 million so far this fiscal year. That’s nearly USD 24 million, or 5.8 percent, below the amount predicted last spring by the state’s Economic Forum. A breakdown showed that slots were down 7.7 percent in November while table games were down 25.2 percent compared with the same month last year.
Slots accounted for about USD 657.3 million of the total win in November. That included USD 288.7 million won by multidenomination slots, down 4.7 percent. Penny slots were second with a win of USD 130.3 million, up 10.2 percent.
Live games, including poker, accounted for the balance of the November total. That included USD 102.2 million won on blackjack tables, down 12.5 percent; USD 39 million on craps, up 4.7 percent; and USD 29.4 million on roulette, down 16.1 percent.
The win on baccarat was USD 47.8 million, down 60.7 percent; and the win on mini-baccarat was USD 18.8 million, up 64 percent.
Sports books won USD 17.5 million in November, down 51 percent. Poker games won USD 12.7 million, up 1.4 percent. „Win“ is a gross figure, with no operating costs or other expenses deducted. It represents casino revenue only, not hotel, restaurant or bar revenues.