Nevada casino win up in June

Wednesday, Aug. 13, 2003 | 11:04 a.m.

CARSON CITY -- After two straight months of declining revenue, Nevada casinos rebounded in June as their winnings from gamblers totaled $809.l million, up 13.2 percent from June 2002.

It was the biggest percentage increase in month-to-month comparisons since the 13.9 percent registered in April 2000. Casinos along the Las Vegas Strip reported $404.2 million in win, up 19.1 percent, the highest gain since the 35 percent increase in November 1999.

It was also a record June win amount statewide, surpassing the previous June 2001 record by $33 million. It was also the largest June money win for Strip casinos, going back to June 2001.

The strong increase was fueled by bigger wins in baccarat and at the slot machines.

But the state Gaming Control Board cautioned that these casino win figures are compared to a soft June in 2002, when statewide revenue was off 7.9 percent and Strip gross win fell by 13.8 percent.

The state Gaming Control Board also reported today the casinos won $9.6 billion, before taxes and business expenses, last fiscal year, an increase of 2.8 percent.

Economists also kept a close eye on the June gaming win in Washoe County where gross revenue fell 1.2 percent to $85.7 million. This was the first month of competition from the Indian-owned Thunder Valley Casino in Lincoln, Calif., which opened June 9 and is expected to siphon off business from the Reno area.

Frank Streshley, senior research analyst for the board, said Washoe County fared "pretty well" in light of the opening of Thunder Valley, which is operated by Station Casinos Inc. of Las Vegas in Northern California.

All the markets in Clark County except Laughlin registered higher revenue in June.

The board said baccarat win statewide increased 456 percent or $37 million over June 2002. Win on the 21 games dropped 1.6 percent; craps was down 5.7 percent; roulette fell 11.3 percent and the sports pool was off 20.3 percent. But slot win jumped 12.3 percent, or $60 million.

Streshley noted the state collected $44.5 million in casino taxes during the month, up 18.7 percent from a year ago. This is the first month of the fiscal year and the state must average 7 percent increases this year to meet the projections of the Economic Forum, whose estimates are used for building a state budget.

Gaming win on the Strip had been down by more than 5 percent in April and May but bounced back in June. Streshley said baccarat win jumped 473 percent; 21 revenue rose 5.8 percent; craps was down 13.8 percent and roulette decreased 12 percent. But slot win jumped 14 percent.

He said part of the reason for the increased in baccarat was a tournament held in early June at the MGM Grand in Las Vegas.

Downtown Las Vegas clubs reported winnings of $52.5 million, up 4.4 percent, following two consecutive months of declines. Slot win rose 2.7 percent and game and table revenue was up 9.9 percent.

The board said clubs in North Las Vegas produced $21.1 million in win, up 38.2 percent, the biggest percentage gain in at least two years. Slot win jumped 43.9 percent but table revenue fell by 7.1 percent.

The gross win at Laughlin casinos fell 0.6 percent in June to $42.4 million. The revenue at these clubs has dropped in four of the last five months. Slot win was up 2.1 percent but table win was off 16.8 percent.

Boulder Strip casinos posted a 26.3 percent increase to $61.3 million, reversing two straight months of declining revenues. It was the biggest percentage gain since 30.6 percent in December 2002. Slot win jumped 32.1 percent, but game revenue was off 6.9 percent.

Casinos in Mesquite reported win of $8.3 million, up 3 percent. Slot revenue rose 4.8 percent but games revenue dropped by 8.1 percent.

Casinos in the balance of Clark County reported revenue of $66.4 million, up 14.2 percent. Slot win shot up 17.6 percent but game and table win fell 4.8 percent.

Washoe County has previously reported room occupancy and airline traffic was up for June compared to a year ago. But the casino revenue picture was mixed. Slot win was up 3.2 percent but table win declined 14.5 percent.

South Lake Tahoe casinos posted $27.6 million in gross win, down 3.7 percent. Slot win fell 5.1 percent and games revenue dipped 0.4 percent.

Carson Valley casinos reported $9 million in win, up 12.2 percent. Slot machines produced a 13.7 percent increase, but table win was off 3.6 percent.

Elko County casinos posted their first increase in four months, reporting winnings of $20.4 million, up 4.8 percent. Slot win rose 7.9 percent but table games were off 8.9 percent.

For the 2003 fiscal year, the Control Board reported the 2.8 percent increase in gaming win compares with a 3.7 percent decline last fiscal year. The average growth rate in casino winnings for the last 10 years has been 4.8 percent.

The casinos reported slot machine win of $6.3 billion, up 2.3 percent and table revenue at $3.2 billion, an increase of 3.9 percent for the fiscal year.

Streshley said Boulder Strip was the strongest growth area statewide, up 7.4 percent last fiscal year, followed by North Las Vegas at 5.8 percent. He said that shows the local markets continue to grow at a fast pace.

Gaming win on the Las Vegas Strip reached $4.7 billion, up 4.4 percent. It accounts for 49.4 percent of the revenue statewide. It's growth rate over the last ten years has averaged 5.9 percent.

Downtown Las Vegas casinos produced $660 million in revenue, off 1.2 percent for the fiscal year; Laughlin grew 1 percent to $550 million; the Boulder Strip generated $680.1 million in win, up 7.4 percent; North Las Vegas grew 5.8 percent to $217.7 million; Mesquite was up 2.8 percent to $109.5 million and the balance of Clark County rose 2.5 percent to $803.4 million in gross gaming win.