Casino revenue sluggish

Friday, Aug. 9, 1996 | 11:59 a.m.

CARSON CITY -- Casinos in downtown Las Vegas and along the Strip posted sluggish gaming winnings for June and part of the reason was a downturn in baccarat.

The State Gaming Control Board reported today that statewide gamblers lost $613.1 million in June, an increase of 1.6 percent compared with the same month a year ago.

Gross gaming revenues in June from Strip casinos rose only 0.07 percent. Downtown casinos, which had reported three straight months of rising business, dropped 2.9 percent.

Russell Guindon, senior research analyst for the Control Board, said baccarat win in Strip casinos fell from $59 million in June 1995 to $38 million this June. In downtown casinos, revenue from "other games," which include baccarat, was off by $4.9 million.

Strip casinos registered $294.9 million in total win, which is computed before taxes and business expenses are deducted. That's about $200,000 more than June 1995.

Slot play in Strip clubs rose only 1.5 percent to $142.2 million. Guindon said, however, that revenues from blackjack was up 17.3 percent; craps increased 4.7 percent; and roulette rose 43.5 percent.

Downtown casinos posted revenues of $53.5 million, down about $2 million from June 1995. Slot play in "Glitter Gulch" was strong, with a 9.2 percent increase to $38.8 million. Guindon said gross win in blackjack rose 19.7 percent; craps fell 25 percent; and roulette was up 49.9 percent.

But the decline in "other games," which includes baccarat, was down 92 percent. Baccarat is not singled out in downtown Las Vegas because there are only five tables and that could lead to an identification of the casinos in the report.

Casinos in Laughlin continue to experience problems, posting a 7.2 percent decline in gross revenues to $37.3 million. This is the fourth time in six months that gambling revenues have been down in the gambling center on the Colorado River.

North Las Vegas casinos reported $11.9 million in win, up 90.8 percent. Guindon said that's due to new casinos that were not operating in June 1995 and also some expansions of existing casinos.

Boulder Highway casinos registered a win of $28.3 million, up 23.2 percent for June. Since January, revenues from the Boulder Strip area have come in more than 20 percent higher each month.

Washoe County casinos posted an $87.2 million win, up 3.4 percent. After two months of declining revenues, South Lake Tahoe clubs were up 4.1 percent to $28.3 million.

For the first time since February 1993, casinos in Elko County registered a decline in gross win. They reported $16.1 million, or 2.5 percent lower than the same month a year ago.

The Carson Valley area, which includes Carson City and Minden, posted a 12.9 percent increase to $6.2 million in win. Part of the reason for that is the Pinion Plaza in Carson City, which was not open in June 1995, Guindon said.

For the fiscal year ending June 30, Nevada casinos won $7.5 billion, up 5.1 percent from a year ago. "A 5 percent growth rate is not too bad," Guindon said.

He said there were no major new casino openings during the fiscal year except the Stratosphere in Las Vegas.

In the fiscal year report, the Control Board said Strip casinos won $3.6 billion, up 4 percent; downtown Las Vegas clubs posted a $653.7 million win, off 2.2 percent; Laughlin recorded a 2.3 percent drop to $509.8 million; and the Boulder Strip rose 23.9 percent to $341 million.