Nevada casinos posted a 1.8 percent gain in winnings during 2007 despite a soft economy, hanging onto USD 12.85 billion of the nearly USD 170 billion bet by gamblers during the year, according to a state report released last week.
While the win was the lowest since 2002 and down from the 8 percent gain in 2006, Gaming Control Board analyst Frank Streshley said an increase during tough economic times shows the gambling industry’s resiliency. “It says something about the industry when you are able to market the casino properties and increase revenues during these slow times,’’ he added.
The win is what was left in casino coffers from the nearly USD 170 billion bet during calendar 2007. That means the clubs held onto 7.6 percent of all money wagered. A breakdown of the win shows that the Las Vegas Strip accounted for USD 6.83 billion of the total. That’s also a record – but it’s well behind the more than USD 10.3 billion in gambling revenue in the booming Chinese territory of Macau during 2007.
Macau eclipsed the Strip for the first time in 2006. The Las Vegas Strip win of USD 6.83 billion was up 2.1 percent over the 2006 win. For all of Clark County, encompassing the Strip, downtown Las Vegas and other southern Nevada cities, the total was USD 10.87 billion, also up 2.1 percent.
Downtown Las Vegas won USD 632.9 million, up 0.4 percent. The USD 12.85 billion statewide win included a record USD 8.45 billion from slot machines, up 1.8 percent from 2006, and a record USD 4.23 billion from table games, up 1.9 percent.