Las Vegas Sun

March 29, 2024

Las Vegas Strip sees gaming win increase in December

Updated Thursday, Feb. 11, 2010 | 10:58 a.m.

Buoyed by strong betting on Baccarat and football and some increases in slot play, Strip casinos reported a gross win of $502.1 million in December, a gain of 5.8 percent and the second straight month of increases for the resort corridor.

Statewide, however, the news wasn't as good. The gaming win fell 3.2 percent for the month.

"We have just finished the most difficult year in gaming history and in a period where some data points are positive and some are negative," said Bill Bible, director of the Nevada Resort Association that represents Strip Casinos.

Bible said he doesn't see a quick turnaround. "The road ahead is a long hard one," he said.

For 2009, statewide gaming revenue fell to $10.3 billion, a 10.4 percent decrease from 2008.

Frank Streshley, chief of tax and licensing for the board, said "This is the fourth decline this decade, after never declining in a single calendar year." The board started compiling figures statewide in 1955.

But he said that the second half of 2009 was stronger than the first six months.

Streshley said Strip casinos had a strong New Years, which was a three day weekend. And CityCenter and the Aria casino opened Dec. 16.

December gaming win in downtown Las Vegas fell 12.3 percent, the 19th straight month of a decline. Gross win was down in North Las Vegas casinos by 25.1 percent in December; 11.6 percent in Laughlin for the 25th consecutive month; down 19.8 percent on the Boulder Strip; lower in Mesquite by 7.5 percent for the 11th straight month and off 13 percent in the balance of Clark County.

The board said the gross win in Baccarat on Strip Casinos reached $155.6 million, up 101.9 percent from December 2008. Baccarat on the Strip now accounts for more than half of the win from card games.

For the year, Baccarat on Strip casinos rose 26.6 percent after a decline in 2008 of 15.9 percent. Baccarat statewide accounts for 8-9 percent of the total win.

Bible said the big increase in Baccarat reflects the weak dollar. It's a great bargain for foreign gamblers, he said.

Gross win on the Strip slot machines fell 2.9 percent in December. But there were increases of 8.3 percent in the take in the penny machines; 3.5 percent on Megabucks; a 17.9 percent gain on the $5 machines and a 2.3 percent jump in play on the multi-denominational machines.

Bible said slot machine play is the "bread and butter" of casinos. The lower amount reflects high unemployment, foreclosures and businesses shutting down.

For the year, casinos in downtown Las Vegas reported a 10.1 percent drop in gaming win; North Las Vegas casinos rose 1.2 percent; Laughlin was off 13.7 percent; revenue in Boulder Strip casinos fell 5.8 percent for the year; Mesquite dropped 16.5 percent and the balance of Clark County dropped 14 percent in 2009.

The board said it collected $33.5 million in taxes, a 6.6 percent decline compared to the same month of 2008.

Streshley said Washoe County casinos won $804.2 million, the lowest amount since 1989. It was 13.4 percent lower than in 2008.

South Lake Tahoe casinos posted a win of $226 million in 2009, down a record 25.7 percent over the previous year.

Carson Valley casinos reported a win in 2009 of $102.1 million, off 8.5 percent. Elko County casinos won $168.4 million during the year, down 8.4 percent from 2008.

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