Nevada casinos enjoy healthy gaming win increase of 6.2%

Thursday, Dec. 9, 1999 | 11:13 a.m.

CARSON CITY -- Nevada casinos cleaned up in October on football and baseball bettors, but experienced a big downturn in baccarat play.

The state Gaming Control Board reported today total win reached $794.4 million, up 6.2 percent compared to October 1998. And downtown Las Vegas clubs recorded their biggest increase since September 1998.

"It was a pretty good month," said Frank Streshley, senior research analyst for the board. The 6.2 percent represented $46.4 million more in gross gaming revenue, computed before taxes and business expenses.

Slot win rose by 6.8 percent and game revenue inched up 1.2 percent. Win from the sports pool increased 83.4 percent for the clubs. In October last year, the casinos lost $90,000 on the baseball playoffs and World Series betting but won $6.9 million this year. That's an increase of 7,748 percent.

Casinos statewide posted a 48.5 percent increased win in football in October. The "hold" percentage or gross profit was 10.6 percent versus 8.4 percent of a year ago, Streshley said. Team favorites such as Denver, Dallas and San Francisco lost, helping casinos to raise their revenues.

But win from baccarat declined $31 million from a year ago. Streshley said the amount wagered on the game fell by 40.1 percent or $138.4 million. And the casino hold was 9.6 percent compared to 14.9 percent in October 1998.

Most of that downturn occurred on the big casinos on the Las Vegas Strip, where baccarat volume fell 63 percent.

The board reported downtown Las Vegas clubs won $60.9 million, up 3.3 percent, the biggest growth in more than a year. Slot win rose 1.1 percent and revenue from games jumped 10.5 percent. Part of the game increase was attributed to the sports pool, where winnings were up $1.2 million or 150 percent.

Strip casinos posed $389.1 million in gross win, up 5.1 percent. Streshley said it was a year ago in October that the Bellagio opened, pushing revenues then up 15.8 percent. This October slot revenues rose 10.1 percent and game win was flat at an increase of .48 percent compared to a 27.3 percent of a year ago. The sports pool rose 61.7 percent. Baseball winnings jumped 2,239 percent and football revenue escalated 21.2 percent.

North Las Vegas clubs posted their third straight month of double digit increases. They reported $17.3 million in revenues, up 13.7 percent. Slot win rose 9.7 percent and game revenues jumped 39.7 percent. Streshley said that in October 1998, the games lost 14 percent.

For the 14th consecutive month, casinos in Laughlin enjoyed an increased win. The board said the win reached $47.1 million, up 7.7 percent. Slot revenue was up 8.6 percent and table win rose 3.6 percent.

Revenues from the casinos on the Boulder Strip rose to $46.8 million, up 5.6 percent. Slot win was up 1.1 percent and table revenue jumped 22.6 percent. Streshley said a year ago, table win was down .4 percent.

The board reported Washoe County clubs posted $99.8 million in gross win, up 6.9 percent. Slot win was up 6 percent and table revenues up 12.8 percent.

South Lake Tahoe recorded $28.5 million in revenues up, .63 percent. Casinos in Elko County reported $21.2 million in win, up 9.5 percent. Carson Valley casinos reported $8.1 million in gross revenue, up 8 percent.