Tuesday, Sept. 9, 2003 | 11:07 a.m.
CARSON CITY -- Casinos along the Las Vegas Strip won $397.6 million from players in July, a healthy 6.9 percent increase and the second straight month of higher gross revenue.
The state Gaming Control Board reported today that strong play on the slot machines on the Strip helped offset a poor showing at the baccarat tables. And North Las Vegas clubs posted their second straight double-digit increase in gaming win, a 22.8 percent increase from a year ago.
The Gaming Control Board reported that statewide the casino win rose 2.6 percent to $825.4 million with most of the increases in Southern Nevada and poor showings in Northern Nevada.
Gov. Kenny Guinn said, "While the revenue collections early in the (fiscal) year are positive, the very small 2.6 percent growth in gaming win for the month of July is a cause for concern."
The 2.6 percent statewide increase is compared to a soft July 2002 when gross win was down 0.5 percent. Gross revenue is computed before taxes and business expenses are deducted.
The state collected $53.9 million in taxes from the win, a 12.5 percent increase over last year.
Frank Streshley, senior research analyst for the control board, said there were no major special events in Southern Nevada. July 4th fell on a Friday and casinos reported their business was below expectations. The clubs, said Streshley, are seeing an increase in visitors but they are spending more on non-gaming activities.
The board said statewide game and table win fell 1.3 percent. Part of the decrease was because of a 25.6 percent decline in the baccarat win. "Casinos were hurt by the low win percentage of 14.3 percent," said Streshley. That compares with the "hold" of 23.7 percent a year ago on baccarat.
Streshley said 21 win grew by 3.9 percent; craps was down 19.1 percent; roulette jumped 10.8 percent; and sports pool skyrocketed 420 percent. He said the gain in the sports pool was because of large payouts last year. Slot win was up 4.2 percent statewide with Megabucks jumping by 34.7 percent.
The 6.9 percent increase posted by Strip casinos is compared to a gross win in July 2002 that was down by 2.8 percent. Slot win posted an 11.3 percent increase. Game and table win inched up 0.9 percent. But baccarat registered a 24.2 percent decline compared to a year ago.
Win on the 21 games on the Strip jumped 11.8 percent; craps was down 24.7 percent; and roulette was up 11 percent. The sports pool win grew by 1 percent.
Downtown Las Vegas clubs posted their second straight month of increases revenues, reporting winnings of $54.5 million, up 2.9 percent. Last month the casinos had 4.4 percent higher winnings. Slot win rose by 2.2 percent and table win was up 5.1 percent.
The 22.8 percent increase by North Las Vegas clubs comes after a 38.3 percent jump in June. Total win reached $20.2 million in July. Slot win increased 24.4 percent and game and table revenue inched up 1.1 percent.
Casinos in Laughlin registered $44.4 million in win, up 3.5 percent. Slot win was up 2.4 percent and game revenue jumped 10.1 percent. Streshley said the table win was the strongest increase since Indian casinos in Arizona added table games in February. Until now, the table revenue in Laughlin had been declining, Streshley said.
After a 26.3 percent increase in win in June, Boulder Strip casinos reported $59.6 million in gross revenue, down 7.2 percent. It was the third time in the last four months that these clubs have registered decreases compared to a year ago. Slot win dropped 9.4 percent but table win rose 1'4 percent.
The control board said Mesquite casinos won $8.4 million, up 3.3 percent. Slot win was up 6 percent but table revenue fell 11.3 percent.
Clubs in the balance of Clark County had $70.8 million in win, down 0.06 percent. Slot win was down 2 percent but game revenue rose 13.3 percent.
Streshley said the opening of the Thunder Valley Indian casino near Auburn, Calif., has hurt both Washoe County and South Lake Tahoe, in winnings from table games.
For the fifth time in six months, casinos in Washoe County experienced a drop in gross revenue, reporting $90.5 million in win, off 5.6 percent. Game win was off by 17 percent and slot revenue fell by 2 percent.
South Lake Tahoe clubs registered $39.8 million in gross revenue, down 5.3 percent and the fourth straight month of a decline. Winnings from games fell 19.6 percent but slot win rose 5.9 percent.
The board said Elko County clubs posted $19.6 million in win, down 2.4 percent.
Carson Valley casinos reported $8.8 million in win, up 7.4 percent.
archive
