Nevada gaming win up 2.7 percent in April

CARSON CITY -- Gamblers at Nevada casinos lost on the slot machines in April but did better at the tables.

In particular, high-roller baccarat players enjoyed an improved performance, compared to the same month of a year ago.

The state Gaming Control Board reported today casinos won $653.2 million in April, up 2.7 percent. Every market except downtown Las Vegas and South Lake Tahoe registered an increase.

"The strength was on the slot win instead of on the tables and games," said Russell Guindon, senior research analyst for the board. Gross revenue from the slot machines rose by 4.8 percent but the table game win fell by 1.1 percent.

"The major factor contributing to the weakness was baccarat. It held half as much as a year ago," he said, referring to the amount the casino kept. "This year they held 12.5 percent compared to 26 percent a year ago. The players did better this year."

There were two big growth areas this April. Win from roulette rose 69.2 percent and Guindon said casinos apparently brought in some upper-end players. And winnings by casinos on basketball bets rose 140 percent to $1.3 million.

There was no constant theme from market to market, Guindon said.

Casinos along the Las Vegas Strip reported $307.4 million in win, which is computed before business expenses and taxes. That's 1 percent above April 1997. Revenue from the slot machines rose by 4.1 percent. The total play on the slots was down 2.6 percent but the clubs kept more of the volume.

Activity on the gaming tables on the Strip rose by 18.6 percent but because the players won more, the gross win was down 2 percent. "Baccarat had a significant impact on this market," he said. There was a 32 percent increase in activity but the casinos realized only a 12.4 percent "hold" compared to 26.9 percent of a year ago.

"It was not a particularly good month" for downtown Las Vegas where the gross win fell by 2.6 percent to $56.7 million.

The board said the slot machine revenues rose by eight-tenths of a percent while game and table win fell by 11.1 percent. Both the play on slots and table games was down 4 percent. Guindon said the "last few months have been confusing" in the downtown market and there has not been a discernable trend.

For the third consecutive month, casinos in North Las vegas reported double digit growth, up 15.6 percent in April to $15.4 million. Slot win rose 12 percent and game and table win was up 45 percent.

There was continued strong growth on the Boulder Strip with revenues reaching $39.6 million, up 23.4 percent. But Guindon pointed out this includes Sunset Station and The Reserve in Henderson, which were not operating in April 1997. Slot win rose 20.3 percent and table revenues jumped 46.9 percent.

After four months of declines, Laughlin casinos posted a 1.5 percent increase to $42.1 million. Slot revenues increased by 3.6 percent and games fell by 8 percent.

In Washoe County, the casino picture was opposite of Clark County. The gross revenue reached $86.3 million, up 3.2 percent. But game and table win jumped 8.6 percent. The strength was on the dice games, up 22.6 percent. Guindon said there were some special craps tournaments in Reno in April. Slot win rose just 1.5 percent.

Casinos at South Lake Tahoe fell by 6.7 percent to $19.6 million. This is the fourth decline in the last five months. Slot revenues dropped by 2.3 percent and table games were off 14.2 percent. While craps play was up in Reno, it fell by 62.4 percent at South Lake Tahoe.

Reversing two months of decline, Elko County casinos posted a 4.7 percent increase to $16.9 million. Slot win jumped by 9.4 percent but games fell by 10.5 percent. The total play was down both in slots and on the tables, but the casinos held more on the slot volume.

Carson Valley -- which includes Carson City, Gardnerville and Minden -- had a "fairly strong" month, recording an 8.1 percent increase with revenues at $6.5 million. Slot win rose 8.9 percent but table revenues rose only 1.6 percent.

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