Gamblers losing more to nickel slot machines

Wednesday, Oct. 10, 2001 | 10:43 a.m.

CARSON CITY -- The nickel slot machine carried the day for Nevada casinos in August.

The state Gaming Control Board reported today the Nevada gaming industry won $824.5 million during the month, an increase of 1.2 percent or $10 million from August 2000.

While the win from tables decreased, slot machine revenue rose 4.3 percent or $22.8 million. And the nickel slot machines won $126 million, an increase of 25 percent or $27.3 million from a year ago.

Frank Streshley, senior research analyst for the board, said the 5-cent slot machine revenue has been growing in double digits for close to two years. It came, he said, with the introduction of multi-coin machines.

Streshley said statewide game and table win fell by 4.5 percent or $12.7 million. Baccarat dropped 27.4 percent; 21 revenue was up 2.3 percent; craps declined 14.4 percent and roulette was off 2.1 percent.

Gamblers wagered $10.2 billion in the slot machines and $1.9 billion in games. The gross revenue or win is before business expenses and taxes are deducted.

Streshley said the performance of the casinos was a reflection of the national economy, which had slowed even before the Sept. 11 terrorist attacks.

Casinos on the Las Vegas Strip followed the trend with a good win from the slot machines but a drop on table games. The board said gross revenue reached $411.2 million up 2.1 percent from a year ago.

This represents a rebound from July, when gross revenue fell by 3.7 percent on the Strip.

Streshley said there were no major conventions or special events in August in Las Vegas.

Slot win at Strip casinos grew by 7.3 percent. But game and table revenue fell by 3.1 percent. Baccarat declined 26.4 percent and the amount wagered on the game was down $40.5 million.

Strip casinos reported a 13.9 percent increase in revenue from the 21 game but craps fell 16.8 percent and roulette was up 1.1 percent.

Downtown Las Vegas casinos recorded their 10th consecutive month of growth. The clubs won $56.5 million, up 5.7 percent, the biggest percentage gain in more than one year. Slot win rose by 5.7 percent and game and table revenue increased by 5.1 percent.

North Las Vegas gaming continued to have its troubles. The board said the clubs won $16.1 million, down 23.5 percent. It was the fourth consecutive month with a double-digit decline. The declines started with the opening of the nearby Suncoast casino in the Summerlin area of Las Vegas more than a year ago. Slot win fell 24.7 percent and game and table win was off 14 percent.

The board said Boulder Strip clubs won $49.8 million, down 1.5 percent from a year ago. Slot win was off by 2.7 percent but table winnings rose by 8.7 percent.

Casinos in Laughlin rebounded in August after five consecutive months of decline. Total win was up .47 percent to $42.4 million. Table winnings rose 4.2 percent but slot revenue was off .12 percent.

The board said Washoe County registered its fifth consecutive month of declining gaming revenues. The gross win totaled $99.2 million, down 1.5 percent. Slot machine winnings inched up .9 percent but game revenue fell 9.1 percent.

Streshley said casinos at South Lake Tahoe posted their biggest percentage drop in revenue since December 1997. Casino win totaled $36 million, off 18.2 percent. In December 1997, the win declined 26 percent. And August was the sixth straight month of lower revenues. Slot win was off 1.3 percent and game and table win fell 38.2 percent.

After seven straight months of declining revenues, Elko County casinos posted a win of $20.4 million, up 9.4 percent. Slot machine revenue was off .8 percent but game and table win rose 12.2 percent.

The board reported casinos in the Carson Valley area won $8.7 million, up 3.1 percent. Slot win rose 5.1 percent and table win was up 2.9 percent.