Friday, May 9, 2003 | 11:16 a.m.
CARSON CITY -- Despite the war in Iraq, Nevada's casinos industry continued to win more money from unlucky gamblers in March compared to March 2002.
But the current numbers are below those recorded in March 2001, indicating the tourism industry has yet to fully recover from the 9-11 terrorism.
Business on the Las Vegas Strip, which accounts for more than 47 percent of the state's gaming win, was flat in March 2003. However there were strong performances in North Las Vegas and the Boulder Strip, both registering double-digit gains.
The state Gaming Control Board reported today the gross win statewide reached $834.6 million, an increase of 3.4 percent from the same month of a year ago. It was the eighth straight month of increased win, which is computed before taxes and business expenses.
But this March is compared to a weak March 2002 when gaming win decreased by 5.8 percent as tourism slowed because of the terrorism in September 2001. Some state officials originally feared that the Iraq war might dampen the tourist economy.
Frank Streshley, senior research analyst for the board, said there were minimal cancellations of conventions and hotel bookings because of the war, which started in mid-March.
He said, however, he expected a bigger fallout in April from the war.
Streshley said the casino industry recorded its biggest monthly slot win ever in March -- reaching $573 million, up 6.6 percent from a year ago. This was the first time the average win per day per slot machine averaged more than $100. March is traditionally the strongest month for slot machines, he said, due to strong convention business in Southern Nevada and the end of the winter season in Northern Nevada.
The casinos also reported a strong performance on sports betting with revenue of $13.5 million, an increase of 101 percent. Streshley said this was due to "March Madness" when there were a lot of upsets in the NCAA basketball tournament. He said the public mostly bet on the favorites.
The board said table games statewide won $256.5 million, down 3.1 percent. Craps was off 16.4 percent; blackjack was down 12.8 percent but baccarat revenue rose 46.2 percent.
Gov. Kenny Guinn said, "Despite this month's increase in gaming win, (gaming) percentage fee collections continue to fall well below budgeted projections."
Guinn said the March gross win was 2.5 percent lower than the same month in 2001. He said the financial picture is worse when shortfalls in sales tax and other revenue sources are considered.
Casinos along the Las Vegas Strip reported $395.6 million in March winnings from gamblers, an increase of only 0.1 percent. That compared to a 9 percent decrease a year ago in March. Although a minor increase, it was the eighth straight month of higher win
The board said slot machine win on the Strip rose by 2.8 percent but table revenue was off by 3.2 percent. There were declines of 16.1 percent in blackjack and 22.1 percent in craps. But baccarat win rose 50.6 percent and sports pool revenue jumped 173 percent.
Downtown Las Vegas clubs reported gross win of $63.6 million, up 6.2 percent. This is only the third month in the last nine that these casinos have reported higher revenue. Slot win rose 5.3 percent and table revenue jumped 9.6 percent.
The board said clubs in North Las Vegas won $22.1 million, a jump of 34 percent. This compares with a drop of 24 percent last year. Still it was the fourth straight month of increased gross revenue. Slot win rose 44.4 percent but table games were down 26.5 percent.
For the second straight month, gaming business declined in Laughlin. The board said the clubs captured $52.9 million, a decline of 7.7 percent. Slot win was off 8.5 percent and table revenue fell 3 percent.
The board said casinos in the Boulder Strip area enjoyed another strong month, reporting winnings of $64.4 million, up 22.9 percent. Slot win rose 29.6 percent but table games were off 8.8 percent.
Mesquite casinos won $10.9 million, down 5.1 percent. It was the first decline in six months. Slot win was off 0.4 percent. Game and table win fell 23.3 percent. The clubs in the balance of Clark County registered a 19.1 percent increase to $75.3 million for March. Slot win was up 21.4 percent and game and table win rose 8.3 percent.
For the second straight month, Washoe County casinos reported lower win. They grossed $85.3 million, down 0.2 percent.
Casinos at South Lake Tahoe inched up 1.6 percent to $25.4 million. Elko County posted $19.2 million, off 11.7 percent. The Carson Valley casinos reported $8.7 million, up 8.1 percent.
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