November gaming win advances

Tuesday, Jan. 13, 2004 | 10:53 a.m.

CARSON CITY -- Fueled by strong play in slot machines, Nevada casinos won $763.7 million in November, a gain of 4.29 percent and the third straight monthly increase.

The state Gaming Control Board reported today there were good numbers in Clark County gambling clubs, which reported a 6.5 percent increase or $631.4 million in revenue. But business in Northern Nevada suffered.

"The gains in Clark County are offset by the rest of the state," said Frank Streshley, senior research analyst for the board. Gaming win from the rest of the state dropped 5.3 percent in November.

North Las Vegas, the Boulder Strip and the balance of Clark County all recorded double digit increases. Streshley said North Las Vegas was the strongest gaming market in the state. It has recorded double digit increases in five of the last six months and its gross revenue is up 20 percent for this fiscal year.

Stresley said the trend this fiscal year that started July 1 has been for increased winnings in slot machines but a drop in table game revenue. Baccarat so far this year is down 36 percent.

He said the "high end players" have not returned since the war started in Iraq. And this decline in baccarat has also spilled over to 21 and craps, he said.

Gov. Kenny Guinn said he was "encouraged by continued moderate growth on the gaming front, however, we must keep this trend in perspective."

He said the tax collections for the fiscal year are slightly ahead of the economic forum's projections.

The gaming tax this fiscal year has yielded $320.5 million, up 4.9 percent, according to the board.

Slot machine winnings statewide accounted for $503.1 million or an 11.6 percent increase statewide. But gross revenue from the table games fell by 8 percent to $254.7 million compared to November of a year ago.

Casinos along the Las Vegas Strip reported $387.7 million in gross win, computed before business expenses and taxes. That's a 4.1 percent increase over November of 2002 and Streshley called that a "good" performance because it compares with a gain of 6 percent from November of 2002.

Slot machines in the 43 Strip casinos produced $210.1 million, a gain of 21.7 percent. But revenue from table games slumped 11.5 percent to $174.4. He said baccarat win fell 50.6 percent to $18 million.

Twenty-one games produced $57.5 million, a drop of 15.3 percent; craps was down 35.5 percent in November to a win of $17.4 million but the sports pool winnings grew to $23.2 million, up 217 percent on the Strip.

Casinos in downtown Las Vegas posted $52.2 million in total win, up 4.5 percent. Streshley said slot win rose 7.4 percent and game win fell 3.8 percent.

The board said North Las Vegas casinos won $19.3 million, a 44 percent increase compared to November 2002. Streshley said November 2002 was a poor month, registering a 17 percent decline.

Still, he said, North Las Vegas markets are leading the state. In November slot machines win jumped 48.5 percent and tables were up 19.9 percent.

Casinos on the Boulder Strip reported $52.9 million in win, up 16.5 percent. This comes after a decline of 12.2 percent in October. But it is the third month of this fiscal year in which the Boulder Strip casinos have posted double digit increases. Slot win in November was up 21 percent and table revenue grew by 4.3 percent.

The board said clubs in Laughlin won $44.6 million a gain of 0.5 percent. Slot revenues grew .03 percent and table games were up 2.5 percent.

Mesquite's seven casinos reported revenue of $9.1 million, up 6.7 percent. Slot win rose 8.1 percent and table games inched up 0.65 percent.

The 70 casinos in the balance of Clark County posted $65.4 million in win, up 11.4 percent. Table games rose 6.1 percent and slow win jumped 12.8 percent.

Streshley said Washoe County posted its worse November in the last 10 years. Gross win totaled $76.5 million, down 7.4 percent. It was the lowest gross win in November since 1994. Slot win fell 7.6 percent and games were down 7.3 percent.

Washoe County has faced increased competition from the Indian casino near Auburn, Calif., that opened last summer.

South Lake Tahoe clubs registered a win of $20.6 million, down 5.5 percent. Slot win fell 13.2 percent but game and table win rose 13.4 percent.

For the seventh consecutive month, casinos in the Carson Valley registered an increased win. They produced $8.2 million, up 5.1 percent. Slot revenue grew 5.7 percent and games were up 0.2 percent.

Elko County casinos produced $17 million in gross revenue, down 6.5 percent. Slots were off 8.2 percent and table games fell 2.9 percent.