Strip gaming win falls in November after consecutive increases

By Cy Ryan

Published Tuesday, Jan. 11, 2011 | 8:04 a.m.

Updated Tuesday, Jan. 11, 2011 | 8:55 p.m.

CARSON CITY – Winnings at Las Vegas Strip casinos sank 4.1 percent in November, ending three consecutive months of gains.

Table games at the 27 casinos were hit hard, but slot machine win increased. Bettors on NFL games actually won $2.3 million from casinos.

The Nevada Gaming Control Board reported today that gross win statewide, calculated before taxes and business expenses, dropped 5.8 percent in November.

Michael Lawton, senior research analyst for the board, said there was a double-digit decrease in convention business in November in Las Vegas. “But there is nothing to panic about,” he said. Some of the convention business switched from November to October, a month that recorded increased numbers.

Downtown Las Vegas casinos, after a one-month increase in win, fell 8.3 percent compared to a year earlier. It was the 29th decrease in the past 30 months that casino winnings have dropped downtown.

The board said winnings were up 3.4 percent at North Las Vegas casinos; down 0.2 percent in Laughlin; down 2.5 percent on the Boulder Strip; down 2 percent in Mesquite; and down 11.3 percent in the rest of Clark County.

On the Strip, which accounts for more than 50 percent of the state’s gaming volume, casinos won $454.3 million. But the casino win from table games was off 18.2 percent while slot win jumped 10.3 percent.

Winnings from baccarat, which had enjoyed four consecutive months of higher win, fell 25.7 percent. Lawton said one reason was the baccarat room at Wynn Las Vegas was closed for remodeling during the month. And players who did play were luckier.

The board said the win from blackjack dropped 11.5 percent; roulette was off 23 percent and the sports book win fell by 75.5 percent compared to a year earlier.

Lawton said casinos lost $2.4 million on football betting, mostly on NFL games. “The lamb did not get slaughtered by the butcher” in November, he said, referring to the bettor coming out on top.

Craps win at Strip casinos jumped 38.5 percent.

Winnings from $100 unit slot machines skyrocketed 695 percent and $25 slots rose 60.8 percent. Penny machines recorded a 21.1 percent gain on the Strip.

Lawton said this was the second straight month that slot machine winnings have increased on the Strip. The play on the big domination slots is more volatile, he said.

Gaming in Washoe County sank 19.6 percent compared to a year earlier; South Lake Tahoe was off 5.2 percent; and Elko County fell 11.1 percent. Carson Valley casinos recorded a 2.5 percent increase in gross win.

For the fiscal year that started in July, gross win on the Strip is up 6.8 percent. Statewide, there is an increase of 2.2 percent.

The board said it collected $49.7 million in taxes during December, based on the winnings of November. That’s a 12.7 percent increase.