Nevada slot win sets record

Wednesday, May 10, 2000 | 11:21 a.m.

CARSON CITY -- Slot machine players lost a record $555.7 million in Nevada casinos in March as the industry enjoyed a banner month.

The state Gaming Control Board reported today casinos overall won $836.4 million, an 11.9 percent increase of the same month of 1999. "It was another great month," said Frank Streshley, senior research analyst for the board.

Casinos in Laughlin, the Boulder Strip and Mesquite posted record wins. Downtown Las Vegas registered its highest gross revenue since January 1999.

The clubs statewide paid a record $64.6 million in taxes during the month, surpassing the previous high of $56.5 million set in February.

Streshley said statewide, winnings from the slot machines, before taxes and business expenses are deducted, were up 10.9 percent from March 1999. And the $555.7 million surpasses the previous record of $520.4 million recorded in September 1999.

He attributed the strong performance to the multi-coin poker machines where a customer can play anywhere from five to 50 hands of poker at a time. Gross revenue from the 5-cent machines rose 37.1 percent compared to a year ago. Most of these multi-coin machines are nickel play, he said.

Casinos raked in $275 million from table games, up 15.9 percent statewide. That is on top of a 22.9 percent increase in March 1999. Baccarat win rose 21.9 percent; 21 was up 14.3 percent; craps rose 13.3 percent but the win on roulette fell by 8 percent.

Win from the sports pools grew 8.8 percent. Streshley said this was due in large part to increased betting on "March Madness," the finals of the NCAA basketball tournament.

Casinos along the Las Vegas Strip posted a record slot machine win of $216.2 million for the month, surpassing the previous mark of $207.9 million September 1999. The March win was 13.1 percent higher than for the same month of a year ago. The win from the 5-cent slot machines grew by 51.7 percent.

Total win on the Strip reached $414 million, a 17.1 percent increase over March 1999. Game and table win rose by 22.1 percent. Baccarat gross revenue was up 24.9 percent; 21 increased 21.3 percent; craps jumped 14.7 percent but roulette was down 10.8 percent.

Downtown Las Vegas casinos raked in $61.7 million, up 2.2 percent from the same month of a year ago. It was highest win since January 1999. Slot win rose 6.2 percent but revenue from table games fell by 8.3 percent.

For the first time in the last 13 months, casino win in North Las Vegas fell. The clubs posted gross revenue of $19.8 million, down 4.9 percent from a year ago. Streshley said that's due mainly to the players winning more from the slot machines than in the past.

Slot machine revenue dropped 7.7 percent in North Las Vegas. The "hold" or win by the casinos on the slot machines fell from 4.9 percent in March 1999 to 3.6 percent this year.

Clubs in Laughlin posted a record month, winning $56.2 million, surpassing the previous mark set in February this year. The win was 11 percent higher than February. Gross revenue from the slot machines rose 12.3 percent and game and table win was up 3.8 percent.

Boulder Strip casinos reported a record win of $56.6 million, surpassing the $54.2 million won in January. Total win was up 11.5 percent from March of a year ago. Slot machine win rose 11 percent and game and table revenue was up 10.3 percent.

The board reported Mesquite also posted a record win of $9.5 million in its casinos, up from the previous mark of $9 million in January this year. Slot win rose 10.4 percent and game revenue jumped 4.6 percent.

Gaming win in Washoe County increased to $94 million, up 9.2 percent and the 11th consecutive month of higher revenues. The board said slot machine win was up 10.2 percent and table games rose 6.4 percent.

Elko casinos reported revenues of $21.6 million, up 16.1 percent. Winnings from slot machines rose 20.3 percent and game and table win inched up 2.4 percent.

South Lake Tahoe casinos, after experiencing two months of declining revenues, posted an increase of 8.5 percent with $26.8 million in winnings. Slot win rose 6.8 percent and game and table revenue was up 11.1 percent.

Clubs in the Carson Valley reported winning up 3.5 percent to $7.2 million. Slot win rose 4.9 percent but table game revenues fell by 8.7 percent.

Cy Ryan covers state government for the Sun. He can be reached at (775) 687-5032.