Nevada casino win up 11.2 percent

Wednesday, Oct. 8, 1997 | 11:17 a.m.

CARSON CITY -- Casinos in downtown Las Vegas rebounded from three consecutive months of declining revenues to post a healthy 11.2 percent increase in gaming win in August, the state Gaming Control Board reported today.

The board also said Las Vegas Strip casinos registered a $324.4 million gross win, up 12.5 percent from August 1996.

Control Board spokesman Russell Guindon said most of the higher revenue came from better performances on baccarat and the 21 tables.

Across the state, Guindon said it was a "pretty good month, with every market showing growth except Elko and South Lake Tahoe." The gross win statewide, computed before taxes and business expenses, reached $683.6 million, up 9.5 percent.

Downtown Las Vegas casinos posted declining revenues in May, June and July compared with those months in 1996. But they won $59.5 million in August, up from $53.5 million a year ago.

A major reason was baccarat, which won $2.1 million in August, a 196 percent increase over August 1996. Not only was there more play but the casinos kept a higher percentage of the bets, meaning players were losing more.

Overall, table games reported $17.8 million in gross win, up 22 percent. Slot machine play rose by 6.7 percent to $40.9 million.

Baccarat, the game of high-rollers, also sparked the good performance of Strip casinos. Fourteen casinos that have baccarat reported a gross win of $45.3 million, up 68.8 percent.

Slot win on the Strip rose only 1.9 percent to $147 million. But table games, which includes baccarat, jumped 23.7 percent to a gross revenue win of $175.1 million.

"If you factor out baccarat, the Strip only grew by 6.7 percent," Guindon said.

North Las Vegas casinos won $13.8 million, up 10.6 percent, to continue their strong performance. Slot win was up 9.4 percent, with $11.7 million in winnings, and table games collected $1.9 million for an 18.8 percent gain.

The Boulder Highway casinos reported $35.8 million in win, up 23.8 percent compared with a year ago. Guindon said, however, that takes into account the new Sunset Station, which was not operating in 1996. Slot machine play rose 24 percent to $30.3 million and table game revenue increased 21 percent to $5.1 million.

After six months of declining revenues, Laughlin casinos posted a positive month, up 0.36 percent with $37.8 million in revenues. While slot machine winnings were off 1.3 percent to $29.9 million, table games revenue rose 8.1 percent to $7.5 million.

From January to July, the Laughlin area casinos have reported declining revenues every month compared with 1996.

In Northern Nevada, Guindon said the picture was reversed. "It was the strength from the slot side, rather than from table games."

Washoe County casinos won $97.7 million, up 6 percent. Gross revenue from slot machines increased 7.6 percent to $71.2 million, while table game winnings rose by 2.2 percent to $25.9 million.

South Lake Tahoe casinos posted $30.5 million in winnings, down from $36 million a year ago for a 15.3 percent decline. "But it was not that bad of a month," Guindon said. Slot win was up by 7.6 percent, but the revenue from tables dropped 45.3 percent. That was because of players winning $2.7 million on baccarat.

Casinos in Elko County posted their second straight month of declining revenues. The board said gross win totaled $16.5 million, down 5.5 percent from August 1996. Slot win decreased by 2.9 percent and game revenue fell by 13.1 percent. "A couple of the properties are undergoing renovations," Guindon said, in explaining the decline.

It "wasn't a bad month" for clubs in Carson Valley, which includes Carson City and the Minden-Gardnerville area of Douglas County. They posted $6.9 million in win, up 3.8 percent. Table games were off by 1.6 percent but slow revenue rose by 4.7 percent.