November casino win up, doesn’t match October’s Bellagio-driven win

Brendan Riley

Tuesday, Jan. 12, 1999 | 4:22 a.m.

CARSON CITY - Nevada casinos took in $661.4 million in November, a 6.3 percent increase over the same period in 1997.

The increase wasn't as strong as the previous month's 11 percent gain, when the Bellagio megaresort opened on the Las Vegas Strip, but regulators were still pleased with the take, and tax receipts for the state were even better.

Russ Guindon of the state Gaming Control Board noted that the November win percentage was measured against the big month casinos had in November 1997, when the Holyfield-Moorer fight was held in Las Vegas.

The boxing match brought a lot of high-rolling gamblers into Las Vegas, and that sort of action wasn't around this November.

But there was a lot of gambling debt collection by the resorts, and that helped to push the state's tax take up 24 percent compared with November 1997.

The gambling that had been done on credit had been figured into previous win reports. But the tax payment to the state doesn't occur until the money is actually collected.

The $39 million in taxes collected during November brought the fiscal-year total to $219.1 million, up 7.7 percent from the same period a year earlier.

Guindon said the average is high enough now that tax collections could be flat for the rest of the fiscal year and the state would still meet a forecast of $475 million for the entire period.

What's more likely is a percentage gain, meaning a potential revenue shortfall by the end of June wouldn't be as bad as predicted.

Gov. Kenny Guinn's administration has said the shortfall from all revenue sources could hit $135 million or more. Casino-related revenues account for about 35 percent of all state revenues.

A breakdown of the November win shows gains for every major area of the state except Stateline, on Lake Tahoe's south shore. Resorts there reported a $19.7 million win, down 7.3 percent - ending a four-month-long string of double-digit increases.

The statewide win for the clubs includes $230.9 million from table games, up just 0.5 percent; and $425.7 million from slots, up 9.8 percent. Poker accounted for $4.9 million, up 2 percent.

A breakdown shows the house win in November on blackjack was up 5.8 percent, craps was up 11.6 percent, and baccarat was down 7.8 percent.

The house win on dollar slots was flat while quarter slots were up 6.4 percent and nickel slots were up a big 43 percent.

Megabucks was down 97 percent as a result of the $27.6 million Megabucks jackpot won during the month by a 67-year-old Las Vegas woman.