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Published Thursday, Dec. 10, 2009 | 5:47 a.m.
Updated Thursday, Dec. 10, 2009 | 11:03 a.m.
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Sun Coverage
CARSON CITY – For the 22nd consecutive month, gambling winnings on the Las Vegas Strip fell, dropping 10.2 percent in October with baccarat the only bright spot.
For six straight months, the baccarat win on the Strip increased – this time by 61 percent.
Bill Bible, president of the Nevada Resort Association, said “high end players” are holding up the revenue stream. He said these are the players who don’t feel the global economic pinch.
“They are more insulated because of their individual wealth,” Bible said.
The Nevada Gaming Control Board reported today that gaming win, before business expenses and taxes, totaled $800.3 million statewide or an 11.5 percent decrease from a year ago in October.
Frank Streshley, chief of tax and licensing for the board, said this 11.25 percent statewide decrease compares to a 22.3 percent decline in a year ago. And the $800.3 million was the lowest monthly total since December 2003, he said.
Streshley called October a “disappointment” because there was a flattening out of the declines in August and September. There were only single-digit decreases and a better showing was expected.
Gaming winnings fell in every major market except North Las Vegas, which grew by 3.3 percent. Streshley said, however, that compares to a 34.5 percent decline in October 2008. And the Aliante Station casino wasn't open in October 2008.
Gaming win in downtown Las Vegas fell to $426.2 million, or a 16.4 percent decline. Casinos in Laughlin won $36.9 million, or 19.1 percent less than a year ago. Boulder Strip casinos reported win of $58.9 million, or a 6.3 percent drop.
Mesquite gaming was off 14 percent to $10.2 million and the casinos in the balance of Clark County had winnings of $81.3 million, down 14.3 percent.
On the Strip, baccarat winnings have increased each month since May at the 15 casinos that have the game. Winnings rose 30.4 percent in September and 48.5 percent in August. In October the casinos won $64.7 million.
The $64.7 million in winnings was more than all the casinos in Reno won on all their games and slot machines. Streshley said Strip casinos won $25 million more this year in baccarat than a year ago.
The board said Strip casinos won $426.2 million in October, or 10.2 percent below October of a year ago.
Winnings from the 21 games at the Strip casinos fell by 38.2 percent, the 18th straight month of a decline. The board reported the win from craps was down 10.6 percent in October and roulette was off 15.2 percent.
But the sports books won $9.7 million, up 21.7 percent, capitalizing on poor choices by bettors on football and sports parlay cards.
Slot win at Strip casinos fell by 10.2 percent. Only the penny machines showed a modest 2.2 percent increase in win.
Streshley said Clark County casinos were helped by a sold-out concert of U2 at Sam Boyd Stadium.
The board reported Washoe County casinos won $67.2 million, off 13.8 percent and down for the 28th straight month. South Lake Tahoe fell $24.1 percent to $15.8 million; Elko County was down 10.4 percent to $21.6 million and Carson Valley casinos were down 7.3 percent to $9.2 million.
The board said $49.2 million in taxes were collected during November based on the taxable revenues in October. That's a 12.6 percent decline. For this fiscal year, the casino tax collections are off 10.3 percent.
they still "won' 800 million
Once they get the sports stadium and the high speed rail it will be a boom town again.
Where else do people complain about winning $800 million in one month ? Tighten up those slots a lil more,boys. That will make people want to come to LAS.
This translates into a lot more layoffs. Not just in the casinos but in government as well. Taxes down over 12% means less for state, county and city governments.
up, down, whatever, 800 million in October ain't bad. December is now. 2010 coming up soon. The problem is not how many million the won but how profitable the companies are. a little s.h.ad hole like the Jerry's Nugget casino may be profitable although it doesn't win much, but a Venetian or MGM Grand may win hundreds of millions and still lose money. It must be seen in proportions.
And I don't think the highspeed monorail or any sports stadium will generate more business. The Vegas Strip monorail was a total miss-hit and burned much more money than it will ever generate. Because it was not built on the Strip directly!!!! People would gladly ride it for 1 dollar per ride, 100 per cent, but nobody wants to walk into the back entrance of a casino , passing trash bins and smelly dog pissing zones...
neiman1 wrote: This translates into a lot more layoffs..in government as well. Taxes down over 12% means less for state, county and city governments.
Yeah, but since the pol's don't have the stomach for reality, we can wait months before anyone gets laid off. Private business doesn't worry in Oct/Nov that Xmas is coming, so no layoffs until January. Do you really think gov't workers facing layoff in January did any work in the last month?
if you go for entertainment and watch you spending it's fun. We play nickel video keno and win once in a while. Don't get hooked on gambling to often, the casinos have a big edge.
They come here to LOSE! They get precisely what they want. They sit, smoke, drink, dump their dough into the kitty and walk away. They go home and save up to come back. It's all they know.
Now, if you've noticed, other places have started up their own casinos. If Nevada is going to continue to attract folks so we locals don't have to pay taxes for our services, it seems apparent to me that we must find a better drawing card because our old ones are rapidly becoming passe. Old hat.
Be the first state to legalize pot, and watch the numbers turn around. Stoners will take the plane from all over to sit at the same old dumb machine pumping money, drinkin' the Watanabe specials, gazing at all the gorgeous women and flashing lights and burning those legal buds. Diners will make bank; bakeries will sprout up with space cake and donut holes to help you go around sweet.
Or we can wait for Massachussetts or Cali. Or we could just HOPE sand turns to gold and get our shovels ready.
People should come to Vegas to have fun.We know we will not win big bucks,Las Vegas was not built on winners.I like the slots and bonus games what a thrill.I play $100.00 aday,that keeps me entertained all day and night. If you go on vacation somewher elese you will pay $200.00 aday.The airfare,rooms and food are at a good price. Vegas is my play ground until I find something better to do on my vacation.
"I play $100.00 aday,that keeps me entertained all day and night"
That kind of budget for the Strip????? How many times do you have to "borrow" from the next day's $100 because the first $100 happens to disappear in 2 hrs? Then what do you do? Stay out of the casino? Or is it not that big of a deal?
redneck43
LOLOLOL Yes, the casinos can decide on the payout of the slots, but ONLY the slot machine manufacturer can come and change it on the machine. So when the casino wants to up the ante to 99.9% payout, THEN the techies from the slot maker come in and change it. The casino is not allowed to do it by itself.
Also, every machine type, no matter what casino, the RNG is set the same....until the casino requests otherwise. In my experience, the slot machines are all the same regardless if it is Vegas, Indiana, Illinois or any other casino that has the same machines as Vegas. Most local casinos have the same machines now as Vegas does, which years ago that wasn't the case. The machines were always used in Vegas first, then the local casinos around the country got them.
Yes, the player's club cards track your play and know when you win and when you lose and how much you play. But....they do NOT manipulate if you win or lose. I had a friend who years ago was convinced they have people sitting in a room above the casino floor watching the gamblers and they decided who won or lost!! She was so convinced that they just "pushed a button" and you won! No, we have never ever let her forget that idea of hers!! lolol (I know back in the Mob days - they did maniuplate who won or lost, but not anymore.)
If you gamble and win or lose enough, you can get a computer printout of your play for the year for income tax purposes from the casinos upon request. But again - they do not look and say "oh, here is redneck43 - let's give a big jackpot to him today and next time, have him lose all his money".
Bill Bible, president of the Nevada Resort Association, said
"high end players" are holding up the revenue stream. He said these are the players who don't feel the global economic pinch.
"They are more insulated because of their individual wealth," Bible said.
What if these "high end players" cut back or stopped gambling? Who will hold up the revenue stream then?
thanks, liberals.
The last time revenue was below $800m was in December 2003 (almost 6 years ago). In October of 2007 win was $1165m (over 45% higher).
=================
Statewide NV is $10.385 billion, which is still larger than $7.340 billion for California Indian Casinos, but lottery sales in that state are still close to $4 billion.
==============
Gambling in baccarat is now bigger than blackjack.
What if redneck is right? And the guy speaking for the absolute remoteness of the gaming casinos from the machines that make their money ( ...have to wait for the pro from dover to tighten the odds..), just what if he is maybe fudgin a bit, fictionalizing what may be more like a computer program that identifies you by card and conjures a strategy to: a)take your money; b) push your buttons; c)make you come back for more; d) all the above, in order? Huh, what if? Who'd know?
I believe redneck. I'd bet on it, human nature being what it is!
They have changed the rules on blackjack so much that no one plays anymore. At least no one with any sense.
The only game to play in a casino is poker.
I have to agree with the previous comment about Blackjack. The yearly moving average is down to $739 million, when it was $1,079 million only two years ago. That is a 31.5% drop. I think over and above the recession, people realized that changing the rules to radically hurt the player makes it better not to play the game.
i come to Vegas 3 times a year, and have a blast. I'm smart enough to know gambling is usually in the houses favor, but it is still a free country, and if I lose, Vegas gets more money for their city. The rooms are comped, and I get great value out of my trip, so for all of you lecturers about the stupid fools who gamble, RELAX its my money and I still pay all of my bills on-time every month. You should be more positive and welcoming for us freezing fools from Ohio.
Besides, the shows and food are great, and if you can get rid of the stupid porn peddlers, (not that I'm a prude) they are just annoying, your city will be a little bit better for my wife and I. Merry Christmas, and I'll be out Jan 3rd at the Bellagio donating more money to you all.
Bill Bible, president of the Nevada Resort Association, said "high end players" are holding up the revenue stream. He said these are the players who don't feel the global economic pinch.
Yup, the American ones who got Bush/Cheney's tax cuts!!
Feels good, their "trickeling" down on us.
"drip, drip, drip"
Stuart & Robert Wyman-Cahall
Las Vegas, NV 89142
ainweave
LOLOLOLOLOL Your post is a hoot!!!
Porno peddlers aren't very efficient. There are about 50 or them bunched up together, each one of them handing out the same shi-p. They even hand it out to children, gannys and if dogs on the strip would have hands , they would probably even hand it out to dogs.
the problem I see is that people interested in calling up "entertainer service" will do so, regardless. Some boxes with all the fliers packed in would be sufficient and we would not have to hear this annoying clack-clack of the little cards when passing Caesars Palace or Harrah's. These Southern North American Super pimps are really the rock bottom the city has to offer. And the entertainers offering a job for 150 bucks actually cost 300 or more. That's another big lie they're trying to sell to the tourists.
Dear Buckeye1 -
First... thank you very much for visiting our fine city AND spending your money.
We've (the wife & I) been in Vegas nearly 10 years and LOVE IT!! I rarely comment here or at the RJ site because I dont want to be lumpped in with a bunch of people who sound like whiners and losers. Public forums seem to attract that kind of thinking. Most people I know here also LOVE Las Vegas and only visit the resort corridor when there is a special event. I've lived all over this great country in many great cities.... and we CHOSE to be here (for many reasons). With all of Las Vegas' problems (and everywhere i've lived has big problems too)... we cannot think of anywhere we would rather live.
Thank you again for visiting and spending your hard earned cash. We hope you come back again soon!
Det_Munch & redneck43 :
Players club cards are a must if you are playing heavy on the machines. It is the only way they can track your play for all the freebies. I have often wondered about how the card influences my play, but my inside tech engineer friend told me that NOTHING can change the odds on a machine while it's in play. It must be taken out of service. This is how these disgusting "Server based system" slots will be operated in the near future, in fact they are already all over the casino floor at City Center. Bur even these can not be messed with unless they are taken out of play, and not while a player is engaged in the action.
thanks for the props mjb. I'll be staying at the beautiful Bellagio (3 NIGHTS COMPED) on Jan. 3rd and I'm heading straight for the incredible worlds best brunch buffet.
then I'll check out city center and gamble at Aria,
and generally have a great time. I'll be sure to leave some cash for the folks, and have a damn good time doing it. Bring on the prime rib extra thick please....
stevem, your rich and lazy crowd have you so brain dead. let's see liberals want middle class to make better wages, better and cheaper health care, seems that would translate to more customers for vegas, more disposable income. your cronies want to give us a $250 check once a year while your masters eat all the cake. wake up buddy, unless your one of those greedy people that don't give a c--- about anyone but yourselves
formervegas76 :
You must understand that there is NO difference between "Liberals" and "Conservatives" they just have different methods of fleecing the taxpayers dollars for themselves. We the little people are the ones who get screwed over by these so called "Partys" Go independent and do your own thinking, not following some party line which results in one thing corrupt elected officials ripping us off...
Old news!Same tears!Loosen um up boys,and they will come back?Word of mouth is allways free advertisment.I would rather go into a casino thats popping and hearing bells and whistles and people haveing fun,than I'd rather go into one that all you see is doom and gloom,and that includes the faces of the workers!
redneck
ALiante is PART of multiple Station casinos. Someone else may be winning on the same machine, different Station casino, while you are losing on the machine you were winning on at Aliante or for that matter - at ANY casino.
It all depends on the RNG. You DO know what a RNG is, right?
Players club cards are a must if you are playing heavy on the machines. It is the only way they can track your play for all the freebies
I KNOW this, but redneck is convinced that the casino peaks into who is using that player's club card and then decides if redneck should win or not.
Las Vegas has a history unlike any other city. It is worth visiting and enjoying. I agree it would help if odds were changed on BJ and video poker. Once my wife and I learned about the odds we learned where to play and where to stay away. Caesars used to have 9/6 JOB odds on $0.25 machines and when changed we took our entertainment (food, room) money elsewhere. There is a reason besides the recession why the strip business is down.
enviro, i'm talking liberals not democrats, democrat party has forgotten their base, i'm sure not happy with them. there are no good jobs for unskilled labor force to help them make it to our shinking middle class. no middle class-no recory anywhere especially vegas. happy holidays to everyone
Det_Munch
Glad you enjoy life too. Your comments always seem quite right on.
You suffer from a good education, clear thoughts and respect enough for your fellow man and woman to deliver the truth. We're a dying breed, bro.
Remember "Utah Carol"? by Marty Robbins? It's about a cowboy gettin' stampeded and just as they 'rushed and killed him, he dropped the leading steer.'
That's us, on the way out straight shootin' what ought to be shot!
FWIW:
This Wednesday 12/16 CNBC (Cox 35) will be running episodes entitled "CNBC Investigates Illegal Gambling" [The multibillion-dollar business of illegal gambling] a 60-minute program airing at 6,7,9 and 10 pm.
You're welcome.
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"Where else do people complain about winning $800 million in one month ?"
The answer: Every place that spends $2 billion to take in that $800 million.