Gaming revenues for July jump 12.8 percent

Monday, Sept. 11, 2000 | 11:09 a.m.

CARSON CITY -- A strong July 4th weekend helped boost winnings by Nevada casinos to $827.6 million, a 12.8 percent increase in July over the same month of a year ago, the state Gaming Control Board reported today.

Eleven of the 20 areas in Nevada that report gaming win registered double-digit increases, said Frank Streshley, senior research analyst for the board.

July 4 fell on a Tuesday and Streshley said many visitors turned it into a four-day weekend. "It was one of the strongest July 4ths ever," he said.

Washoe County posted a record month and it was the strongest performance at South Lake Tahoe since December 1994.

He also said rising gasoline prices apparently didn't detour visitor traffic for the month.

This was the 29th consecutive month of increased gross revenue statewide, computed before business expenses and taxes, for the state.

Slot win grew by 12.5 percent with a win of $544.5 million. Streshley said players pumped a record $10.4 billion into slot machines, surpassing the $10.3 billion set in March of this year. Revenue from the nickel slot machines jumped by 35.5 percent for the month and win on the Megabucks was up 29.3 percent.

Table revenue rose 13.8 percent. Leading the way was Baccarat, which posted an increase in win of 18.5 percent or $45.2 million. Streshley said the amount wagered in Baccarat statewide grew 36.1 percent or $62 million.

Gross win on baseball wagering was $1.7 million, up 302 percent from a year ago. Streshley said the casinos lost $890,000 in July last year on baseball bets.

Casinos along the Las Vegas Strip produced another strong month. Gross revenue jumped to $397.2 million, up 15.2 percent. The comparison includes all the new casinos except Paris and the Aladdin. Paris opened in September 1999, the Aladdin opened last month.

Slot win at the Strip clubs rose 13.4 percent. Revenue from the 5-cent slot machines grew 49.4 percent. Table revenue increased by 17.7 percent with Baccarat leading the way with a 17.3 percent gain over the same month of a year ago.

Casinos in downtown Las Vegas recorded their sixth straight month of higher winnings. The board said gross revenue reached $54.4 million, up 4.3 percent. Slot machine win grew by 5.7 percent but revenue from the table games dropped .2 percent.

It was a "huge month" for North Las Vegas clubs, said Streshley. Revenues grew 26.5 percent to $21 million. Win from slot machines was up 27.9 percent and revenue from the table games grew 18.7 percent.

For the 23rd consecutive month, clubs in Laughlin posted increased winnings. The board said total revenue reached $44.8 million, up 7 percent. The board said slot machine winnings were up 6.4 percent and game revenue rose 11.3 percent.

Boulder Strip casinos posted $49.2 million in win for July, up 14.4 percent. Slot win jumped by 18.8 percent and game and table revenue rose by 16.1 percent.

Washoe County casinos reported gross win of $110 million, or a 10.6 percent increase from July of last year. Streshley said this surpassed the previous high of $101.2 million set in August 1999. This was the 15th consecutive month of growing revenues for Washoe County, which includes Reno, Sparks and North Lake Tahoe. And three of the last six months have been double digit increases.

The board said slot win in Washoe County grew 10.3 percent and game revenue was up 11.8 percent.

Casinos at South Lake Tahoe won $42.5 million, an increase of 5.1 percent over the same month of 1999. The board said it was the strongest month in win since December 1994, which posted revenues of $44.5 million. Slot win rose 11.8 percent and game win was down 3.4 percent.

Elko County casinos reported winnings of $20.8 million, up 8.2 percent. Slot win rose 6.9 percent and table win was up 13.9 percent.

Carson Valley clubs posted gross revenue of $8.5 million, up 6.3 percent. Slot win rose 6.4 percent and game and table win was up 5.5 percent.