Nevada gaming win growth rate slows

Tuesday, July 11, 2000 | 10:49 a.m.

CARSON CITY -- Enjoying strong slot machine play, Nevada casinos won $799 million in May, an increase of 5.3 percent.

The state Gaming Control Board reported today that slot win rose 9.9 percent to $545.6 million, which is the second highest win on record. The record was set in March this year at $555.7 million. Clubs in North Las Vegas and Washoe County posted records for their slot machine revenue.

But table win fell by $3.4 percent to $247.3 million. Gross revenue decreased in baccarat by 12.7 percent and the 21 game win fell by 10 percent. Craps revenues rose 12.6 percent.

Gross revenue is computed before taxes and business expenses.

The 5.3 percent increase in May broke a string of three months of double digit increases in gaming win by the casinos.

Frank Streshley, senior research analyst for the board, said the Venetian resort on the Las Vegas Strip opened a year ago in May so there is a better apples to apples comparison in revenue. In addition, he said there were two less weekend days in May. That reduced play at the casinos.

Statewide, he said, winnings from the dollar slots rose 4.1 percent; quarter slots were up 2.8 percent and the nickel slots jumped 36.5 percent. But Megabucks fell by 56 percent.

Casinos along the Las Vegas Strip won $385 million, a 3.6 percent increase and ending three months of double-digit increases. Slot win rose 11.6 percent but game and table revenue fell 4.5 percent. Baccarat win was down 12 percent and 21 revenue fell 11.3 percent. But craps play was up 8.7 percent and roulette rose 10.1 percent.

For the fourth consecutive month, downtown Las Vegas casinos recorded increased win. The clubs captured $58 million in gross revenue, up 2.1 percent. Revenue from the slot machines increased 3.2 percent but winnings from table games fell by 3.6 percent. Blackjack dropped 14 percent but craps jumped 13.5 percent.

Casinos in North Las Vegas posted a record month in slot machine winnings of $19.3 million, an increase of 18 percent from May 1999. The previous slot record was $18.9 million set in January this year. Total win for the casinos reached $21.8 million, up 15 percent.

The board said clubs in Laughlin won $47.2 million, up 5.8 percent. Slot machine revenue rose 9.5 percent and game and table win inched up 2.8 percent.

Casinos along the Boulder Strip bounced back from a flat month in April to post a gaming win of $51 million, up 10.5 percent. Slot win jumped 9.5 percent and game and table win grew by 2.8 percent.

Streshley said Washoe County registered its second highest win in history. Casinos posted $100.7 million in gross revenue, up 2.2 percent. The highest win was in August 1999 at $101.1 million. It was the 13th consecutive month of growth for Washoe County, he said. Clubs posted a record slot win of $76.9 million, surpassing the previous record of $75.4 million set in April this year. Table win fell by 4.8 percent.

South Lake Tahoe clubs registered a 4.2 percent gain in revenue to $26.8 million. But May 1999 was down 6.4 percent. The performance went against the statewide trend of good slot play and poor table game revenues. Slot win this May fell by 1 percent but game and table win increased by 15.9 percent.

Elko County casinos posted a 3.1 percent increase to $19.1 million. Slot win rose 7.9 percent and table revenue fell by 12.8 percent.

Carson Valley casinos posted $7.8 million in winnings, up 4.4 percent. Slot win rose 6.7 percent and table revenue dropped 12.1 percent.

The board reported it collected $560.1 million in taxes on the win from the industry during the past fiscal year, a 12.8 percent increase.