Las Vegas Sun

March 28, 2024

State gaming win up 4.7% in July

CARSON CITY -- Except for baccarat, Nevada casinos enjoyed a good month in July, winning $733.6 million, an increase of 4.7 percent, the state Gaming Control Board reported today.

Russell Guindon, senior research analyst for the board, said, "Some people might not think that (4.7 percent) is a good month" with the three new major casinos open on the Las Vegas Strip this year. "But when you take into account baccarat, it's not that bad."

This July had an extra Saturday compared to July of a year ago and that may have contributed to the showing, Guindon said.

Every market, except downtown Las Vegas, reported an increase in gross revenue, computed before taxes and business expenses. It was the fifth consecutive month of declining win for the downtown area, which has registered only one increase so far this year.

Guindon said statewide baccarat accounted for a $38.2 million win, down 21.7 percent from the same month of a year ago. He said statistics show there was less play this July, mostly in the casinos on the Strip.

Statewide winnings from slot machines rose 6.3 percent while revenue from table games inched up only 2 percent. Casinos reported a $3.3 million loss on sports pool betting, mainly because players were being paid off on their "futures" bets and on the outcome of the NBA basketball championship in June.

Strip casinos reported $344.7 million in win, up 5.4 percent. Revenue from slot machines rose 10 percent with the addition of the Bellagio, Mandalay Bay and Venetian this year to the Strip. Gaming win at the newest resort, Paris Las Vegas, won't be reported until the September numbers are issued.

Win from the table games inched up only nine-tenths of 1 percent. That's because baccarat revenues fell by 22.9 percent or by $11.2 million.

If baccarat was excluded the Strip would have posted an 11.1 percent win, Guindon said.

"It's getting to be a continuing sage," in downtown Las Vegas, he said. The clubs posted a $52.1 million win, down 5.9 percent. Slot win was off by 5.7 percent and table games fell by 6.8 percent.

Laughlin casinos posted their 11th straight month of increased gaming win. The board said revenues reached $41.8 million, up 7.3 percent. Slot win rose by 7.5 percent and table revenue increased by 6.7 percent.

Activity at North Las Vegas casinos "was not as strong as we have seen but it was not that bad a month," Guindon said. Clubs reported revenues of $16.5 million, up 7.7 percent. Slot win rose 5.4 percent and revenues from the table games skyrocketed by 26 percent.

Clubs along the Boulder Strip posted $43 million in revenues, up 2.6 percent. "This is weaker growth than we've seen," in that area, Guindon said. Slot win increased by 4.2 percent but revenues from table games fell 7.7 percent.

Northern Nevada casinos posted steady gains.

Washoe County casinos registered $99.5 million in win, up 7.6 percent. Revenue from slot machines increased 7.3 percent and game and table win jumped 8.6 percent.

South Lake Tahoe clubs reported $40.3 million in gross win, up 2.5 percent. The board said slot machine win increased 5.6 percent but table revenue was down 1 percent. That was due to weakness in play on the mini baccarat, which fell about $1.3 million for the month.

Casinos in Elko County posted $19.3 million in win, up 10 percent. Slot revenue rose 12.2 percent and table games was up 2.3 percent.

Carson Valley clubs won $7.9 million in July, up 4.2 percent. Revenue from slots gained 3.6 percent and game and table win jumped 10.2 percent.

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