LV Strip resorts push gaming win up

Thursday, Aug. 10, 2000 | 11:06 a.m.

CARSON CITY -- Nevada casinos posted an 11.3 percent growth in winnings from gamblers in fiscal year 2000, the largest percentage gain in the last decade.

Clubs statewide won $9.4 billion before taxes and business expenses in the year ending June 30, the state Gaming Control Board reported today.

Leading the growth was the Las Vegas Strip, which registered $4.7 billion in gross revenue, up 15.2 percent in fiscal 2000 over the previous year.

Frank Streshley, senior research analyst for the control board, said the strong showing was due to the addition on the Strip of the Bellagio, Mandalay Bay, Venetian and Paris. And he said that casinos "catering to the local market have done an exceptional job."

The 11.3 percent surpasses the 10.5 percent increase set in 1990 when the Mirage and Excalibur opened.

The figures show Clark County continues to increase its domination in the gaming market. In 1990, Clark County casinos produced 73.3 percent of the total win but that grew to 80.1 percent in the fiscal year that ended June 30. Clubs in Clark County accounted for 76.9 percent of all slot win and 85.7 percent of the revenue from games and tables.

Winnings from slot machines, craps and roulette registered a banner year. Revenue from slot machines rose by 10.1 percent, the first double digit growth since 1991. Winnings from the crap tables jumped 17.9 percent and revenue from roulette was up 17.3 percent -- the highest gains in the last 10 years.

Streshley said all areas of the state showed increased revenue compared to the fiscal year. The lowest increase came in downtown Las Vegas where casinos won $672.2 million, up only .5 percent. But the downtown clubs finished strong on the fiscal year by posting an increase in revenues of 5.7 percent in June, their strongest growth since September 1998.

The board said clubs on the Boulder Strip won $585.1 million during the year, up 9.1 percent; Laughlin registered $554.7 million, up 8.7 percent; North Las Vegas grew to $234 million, an increase of 14.5 percent on the year and Mesquite rose to $96.1 million, up 9.9 percent in the year-to-year comparison.

For fiscal 2000, Washoe County casinos won $1.1 billion, up 7.9 percent; South Lake Tahoe grew to $334.2 million, up 2.3 percent; Carson Valley rose 5.9 percent to $89.6 million and Elko County registered $230.5 million, up 8.3 percent.

Statewide, gross revenue from the nickel slot machines increased by 36.3 percent, coming off a 37.9 percent gain in 1999. Streshley said nickel slot win accounts for 21.8 percent of the total win in 2000, compared to 11.5 percent in fiscal 1990.

The report shows North Las Vegas casinos gave their customers the best odds on slot machine play. The clubs in that city won 3.9 percent of the money wagered. On the Strip, the casinos kept 6 percent of the wager and the win percentage was 5.3 percent in downtown Las Vegas; 5.7 percent in Laughlin; 4.4 percent on the Boulder Strip and 5.3 percent in Mesquite.

Revenue from the $1 slot machines has steadily declined over the 1990s. These machines, not including Megabucks, accounted for 24.9 percent of the revenue, compared to 36.1 percent in fiscal 1990.

The casinos reported an 18.8 percent increase in winnings at sports books. Football revenue grew 21.5 percent but betting on basketball declined 4.5 percent. The win on baseball jumped by 94 percent after a decline in the shortened baseball season in the prior year.

The board said total win in June, the final month of the fiscal year, reached $747.8 million, up 8 percent compared to June of 1999. Revenues from the Strip casinos increased 9.5 percent to $353.2 million.

Winnings at downtown clubs reached $52.4 million for the month for a 5.7 percent increase. North Las Vegas casinos reported $18.1 million, down 3.8 percent; Laughlin registered $44.2 million, up 7.1 percent; Boulder Strip clubs posted $50.5 million in gross revenue, up 4.8 percent; and gaming win at Mesquite dropped 1.4 percent to $7.2 million.