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StumbleAfter recent gains, Strip casino winnings down in April
Published Wednesday, June 9, 2010 | 8:05 a.m.
Updated Wednesday, June 9, 2010 | 9:48 a.m.
CARSON CITY – After two consecutive months of gains, the gambling win at casinos on the Las Vegas Strip fell slightly in April, but baccarat play and roulette registered strong increases.
The state Gaming Control Board reported today the 41 casinos on the Strip won $437.2 million, off 0.93 percent compared to April 2009 when the win dropped by 15.8 percent.
Statewide, the 329 casinos won $810.4 million, down 5.7 percent from a year ago. It was the second-lowest month in the past year. Only October 2009, with an $800.4 million win, was lower.
April is traditionally a “soft month,” says Frank Streshley, chief of tax and licensing for the board. Casinos don’t schedule a lot of events around Easter, he said. But it was “softer than expected,” he added.
Every area in Clark County, except Mesquite, reported a decline in gross win, computed before taxes and business expenses. The casinos in Mesquite reported win at $10.9 million, up 1.6 percent and ending 14 straight months of declines.
The state collected $39.7 million in taxes, a 23.3 percent decline. So far this year, the tax collections on the gaming win are down 5.2 percent.
The board reported gaming win in downtown Las Vegas fell 9.1 percent, the 23rd consecutive month of a decline.
North Las Vegas casinos posted an 11.9 percent decline in gaming win. Laughlin was off 5.3 percent and the win on the Boulder Strip fell 25.5 percent. Casinos in the rest of Clark County suffered a 12.9 percent decrease.
On the Strip, casinos lost $1.56 million on the sports pool. Streshley said bettors collected on their winning tickets from the NCAA championship basketball tournament.
The board reported Strip casinos posted a 10.6 percent increase in baccarat win and roulette was up 16.2 percent. The win from Blackjack increased 7.2 percent but craps was off 3.8 percent. The slot machine win fell 5.1 percent.
Streshley said there are signs of recovery in the tourist markets but it's not extending to areas that depend on locals gaming. He noted high rates of unemployment and a continued softening of the housing mark.
Statewide, the only two markets that posted gaming win increases were Carson City, up 5.3 percent, and Wendover, showing a slight 0.45 percent gain.
Washoe County casinos, after two months of increases, had a 1.7 percent decline. South Lake Tahoe casinos were off 20.7 percent and Elko casinos fell 0.05 percent.
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In my opinion one of the problems is the perception that you cannot win.
Back in the day, we lost money gambling but at least we thought we had a shot at winning.
To me it doesn't seem that way any longer for the average person.
You can certainly make money gambling - at games of skill (poker) or games that have massive payouts like progressives and lotteries. Of course, more will lose than win and certainly the house will always win (though maybe not enought to pay the bills)
The casinos know what they have to do to get the customers back. But apparently they are too stupid or too greedy or too something to do it.
The odds are against you in the long run. Don't play at all if you want to keep your marriage and not jump off the top floor of the Luxor and splatter all over the atrium with your guts everywhere like last year someone did. My friend works at Mandalay and he said someone lost alot gambling and leaped to his death last year.
I have noticed at the strip casino's, they might have 4 craps tables open, 1 is a $10.00 min. it is full you can't get in, the other 3 are $15.00 & $25.00 min. they have no one playing at these tables. It's the same at the Black Jack tables, the $10.00 table is full, the others may have 1 player or none at them. I am not a Casino Manager, but basic economics should tell you to open up more $10.00 tables. I guess they have their standards!
I love the South Lake Tahoe casinos, but with the bruising that they have been taking, I wonder how they are still in business.
I'm a local planning a wedding and couldn't get a few of the casinos to either allow me to preview a suite or to get a locals discount if I did book a suite through them. A suite is not inexpensive and I would be bringing wedding guests into their casinos and several would need hotel rooms. I booked the most cooperative hotel and the one that was willing to work with me.
Apparently, the economy isn't bad enough for most of them yet.
gbeck :
Your analysis is pretty graphic, however as someone who has won and lost huge sums of money gambling, never once did I even consider taking my own life for the huge losses. It's only friggin money man, life is so much more precious than having large or losing all your money. And I was glad to be rid myself of the dead weight that was my ex wife, so I have great memories of my gambling experiences in good OLD Las Vegas..
News Flash: People jump to their death each and every year - here in Las Vegas and in other cities where there are tall buildings, bridges, attractions and cliff sides. Some do it because they are overextended with the casinos while others do it for a myriad of other reasons. It's all sad. As for you brainiacs who talk smack about your ex's, well, YOU married them at some point back in time. Look in the mirror - did they REALLY fool you or were you just a dummy?
With the Boulder Hwy Strip down 25%, it's obvious that those hangers-on getting 99 weeks of unemployment insurance had better start thinking about their futures-now. While many of the workers on the Strip have Unions to cover their butts, all you faithful non-union workers, like those at Stations, might think about relocation before your 99 weeks runs out. This is the country's worst economy by far-things are getting better everywhere but here and Cali-and yes, poor Florida.
Even the Union butt-lickers might be careful, since most properties on the Strip are not making a dime on rooms and food, and can't pay their massive debt solely on gambling revenue, CC being the best example. Wanna' buy a condo in Vegas? You don't have to wait in line.
Gee, I wonder how many Fendi handbags are rushing out the door in this economy? Time will tell...
The current Culinary Union contracts with many of the strip hotels are up in 2012; Should be interesting to follow the negotiations when they start next year, as I don't think the LV economy is going to be materially better then than now.
We are coming in the end of this month. It has been over a year since we have been out and it will be intersting to see the environment first hand. As I stated in a prior comment some time ago, things were extremely tight on our last trip and we finally rented a car and just saw the sights. I am a very steady slot player but I refuse to be constantly drained. We'll see.
steve wynn didn't get rich giving money away to people playing the slots, folks.
Don't worry, I will be back in town by October. I will have a few thousands to burn, no problem. this won't help much, but at least a little bit. And to all my enemies here in the discussion forum: I will also tip my share, don't worry. It will be at the cost of losing everything, minus what I will tip. I hope this will meet everyone's expectations.
From Switzerland
Look folks, I just do not get what's wrong with gaming addicts. Gaming can be such fun, if you know your limits and what/how much/whom you wanted to blow without blowing yourself... I mean do not blow your own existance. That's all.
I do not doubt that increase at the video roulette, since that really is big fun to play, e.g. at N.Y. N.Y. or at the MGM Grand. I was almost dying for that new wide-screen roulette at the MGM Grand on the Pacquiao fight night last year. That was so much fun to double-up within a minute when about 10 gamers who had never ever met before all joined the game against that super computer. Amazing. Just like Nick Papagiorgio already felt:
http://www.imdb.com/title/tt0120434/
Same way as with beer drinking I recommend social gambling to stay within your limits. You could either go with a very good friend or also invite your wife to join you and to watch each other when gambling. So that will neither cost you your marriage nor allow any of you both to jump off the Eiffel tower afterwards. Have fun.
stevem, I completely agree. As my dad used to say "boy they don't build those places for free". The only thing that I ask for is to get to enjoy myself a little bit and then it is just an expense of the vacation. Not really that complicated.
they have made it difficult to win gambling in vegas through most venues. Tighter slots, 6-5 blackjack, higher roulette mins / double zeros, outrageous food prices.
Of course they can't pay all the massive debt they've created from building super palaces. Just look at room rates for Aria next week. Arriving Sunday, leaving on Friday gets you a rate of 105 a night at expedia. You will pay that for a hilton garden inn at 95% of airports around the country. But they didn't cost 8 billion to build....
They built way too many high end joints...they all compete with each other...and there isn't enough people dropping money in them.....it makes it worse when the value has gone down hill. Even for moderate rollers.....
Sorry charger, but cannot confirm your quoted higher roulette mins, since I have seen video roulette mins of half a greenback at N.Y. N.Y. and at The Planet Hollywood, too. Keep looking.
Btw with the video roulette it is not too hard to double-up. Smile, charger, you're in Vegas.
Another article today says visitor numbers are up. The conclusion is that those of us who visit because of the very good room rates are leaving less money behind on the casino floor. There's plenty to do in Las Vegas besides gambling. My gambling limit is low (very low). I love Las Vegas, but I hate losing. How about a $5 blackjack table or 2?
Vegas is all about gambling.They tried attracting families years ago and that's all they did.I found the kids running around and under tables and through the casino extremely annoying.More than that,those countless strollers I was always tripping over.Vegas is what it is.What do you thing you attract with $56 room rates on the strip? a high roller? Get real.
That's right Babyboomer, gambling is what made Las Vegas great and is the key industry/business.
But Vegas always had and still has other icons to offer:
http://www.lasvegassun.com/photos/galler...
a) first-class entertainment:
http://www.lasvegassun.com/photos/galler...
b) a beautiful scenery:
http://www.lasvegassun.com/photos/galler...
and so many culinary and clubbing highlights, that I am not able to start discussing all of them right now. Get over it. Give the people what they want. After some decent buffet, some awesome sandwich I'd like to gamble at the wide-screen video-roulette at the MGM Grand. On another a little cloudy day when it's not too hot, I'd like to book a helicopter tour overseeing Hoover Dam ...to see it the way God does. Before going out in the evening I might get loaded at Kahuna Bar (T.I.) or have some cocktails at Gonzales y Gonzales in Brooklyn (N.Y. N.Y.). L.V. - I Get A Kick Out Of You.
Stay off the Strip and gamble anywhere else in the state. You may as well throw your money out in the street if you gamble on the Strip.
Look kenoking, as a simple tourist I go to the two preferred places for tourists: The Strip and downtown, because that's where people want and like me to go, where people understand me and can keep me informed when where how to get from A to B or C over D etc.
Why should I try places where people do not like me or just ignore me while I'm on vacation in the desert. I will stay on The Strip and in good ole downtown, because I like it this way. These are my favourite places.