Nevada casinos win record $794.5 million in October

Brendan Riley

Thursday, Dec. 9, 1999 | 10:41 a.m.

CARSON CITY - Nevada casinos fared badly at baccarat but scored on other games and sports bets to win $794.5 million from gamblers in October - the 20th consecutive month of positive revenues for the clubs.

Frank Streshley of the Gaming Control Board said today that the October win represents a 6.2 percent jump from the same month in 1998.

The "win" is what's left in casino coffers after payouts to gamblers are subtracted from money that's bet on tables, in slots and on sports events. It's a gross figure, with no operating costs or other expenses deducted. And it's casino revenue only - separate from hotel, restaurant or bar revenues generated by clubs.

The October figures bring the win so far this fiscal year to $3.1 billion, up 11.1 percent over 1998. The state's percentage fees based on the win total $226.3 million for the fiscal year to date. That's up 15 percent compared with the same period in October 1998.

Casino-related taxes along with sales taxes account for three-quarters of all revenues needed to run state government.

A breakdown of the casino win shows Las Vegas Strip resorts collected $389.1 million in October, up 5.2 percent. Downtown Las Vegas clubs took in $61 million in October, up 3.4 percent.

Elsewhere in the state, Reno casinos won $75.8 million - their biggest month ever - for a 7 percent gain. Clubs in neighboring Sparks won $14.6 million, up 4.2 percent.

Resorts on Lake Tahoe's south shore won $28.6 million, up only 0.6 percent.

Statewide, the October win included $279.2 million from table games, up 5.2 percent. The increase occurred because a 61 percent slump in baccarat, down to $20 million, was offset by an 84 percent gain in sports bet revenue, mainly on baseball playoffs, the World Series and football. The sports pool total for the month was nearly $38 million.

Among other table games, craps won $42.1 million for the clubs, up 9.5 percent in October compared with October 1998; and blackjack was up 15.2 percent, winning $98.6 million.

The statewide win on slots totaled $510 million, up 6.8 percent. Quarter slots won $222.9 million, up 0.4 percent; dollar slots won $124.1 million, up 2.4 percent; and nickel slots won $105.3 million, up 36.3 percent.