Las Vegas Sun

April 27, 2015

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Nevada casino revenue down 11 percent in November

CARSON CITY — Nevada casinos suffered their worst month of 2012 in November with gross winnings plunging 11 percent compared to the same month the previous year.

Revenue on the Las Vegas Strip fell 12.8 percent with big declines in baccarat, slot machines and sports betting.

The Nevada Gaming Control Board reported today that statewide gross win — before taxes and business expenses — totaled $782.6 million, the first time revenue has dipped below $800 million this year.

Revenue on the Strip fell to $431.8, also its lowest point of the year. All other areas in Clark County reported declines, too.

Statewide, the gross win at sports books dropped 151.2 percent, with casinos reporting a loss of 1.5 percent.

The board said baccarat winnings fell by 19.8 percent and the slot win declined 7.7 percent statewide.

Taxes collected from the casinos fell to $45.7 million, a 20.2 percent decline for the month. For the fiscal year, collections were $326.7 million, a gain of 1.4 percent.

At Las Vegas Strip casinos, revenue from sports books fell 47.5 percent. The baccarat win dropped 25.1 percent to $55.4 million, and slot machines were off 10.2 percent. The blackjack win was off 23.3 percent, and craps was off 22.9 percent.

The only gain in a major game was in roulette, which was up 11.6 percent at Strip casinos.

The board reported that downtown Las Vegas casinos won $38.5 million, down 17.2 percent; North Las Vegas casinos had a gross win of $17.9 million, down 24.2 percent; and revenue at Laughlin casinos fell 2 percent to $37.8 million.

Casinos on the Boulder Strip reported a decline of 26.3 percent, with $52.7 million in gross winnings; Mesquite fell 1.3 percent to $9.7 million; and the balance of the county had $83.4 million in gross winnings, a decline of 3.9 percent.

One of the only bright spots in Nevada was South Lake Tahoe, which saw a 26.6 percent gain to $17.7 million.

Revenue from casinos in Washoe County, which includes Reno, fell 3.1 percent to $51.8 million, and Carson Valley casinos registered revenue of $7.4 million, down 3.4 percent.

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