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October 1, 2014

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Strip gaming revenue rose 3.3 percent in February

CARSON CITTY - Gambling cooled off on the Strip in February but continued strong in downtown Las Vegas casinos.

The state Gaming Control Board reported today that the gaming win at Strip casinos reached $530.6 million, up 3.3 percent from February 2011, when the casinos reported a 9.5 percent decline in gross revenue.

But downtown Las Vegas casinos reported a gross win of $45 million, up 13.6 percent. The casinos in January saw a 13.7 percent increase in gaming win.

Statewide, the board reported total win, before taxes and expenses, rose 5.7 percent to $932.1 million. Only Laughlin, North Lake Tahoe and part of Elko County registered drops in revenue.

Baccarat win dropped 18.9 percent in Strip casinos compared with a 31.4 decline in February 2011.

While the volume of Baccarat was down, the casinos "held" 14.3 percent compared to 12.4 percent in January. "It was a strong hold month," Michael Lawton, senior research analyst for the board, said.

Gross gambling win in the sports books on the Strip jumped 402 percent in February. Lawton said that was due to football betting where casinos last year lost $1.9 million but won $4.1 million this February.

Other games registered strong increases on the Strip, which accounts for more than 50 percent of the statewide win. The board said Blackjack rose 24.2 percent; craps was up 19 percent and roulette registered a 20.2 percent jump.

Slot machine win on the Strip rose 10.3 percent in February. Lawton said 10 of the last 12 months have shown a gain in slot machine revenue signaling that the core gambler is returning.

Downtown Las Vegas casinos posted a 19.9 percent gain in their slot machine win. The board said the Blackjack win inched up 3.5 percent; craps was down 18 percent and roulette rose 19.9 percent.

The board reported gambling win in North Las Vegas increased 8.5 percent; was off 0.2 percent in Laughlin; jumped 22.9 percent on the Boulder Strip; increased by 2.5 percent in Mesquite and rose 5.8 percent in the remainder of Clark County.

Casino win in Washoe County increased by 8.1 percent; was up 10.2 percent in South Lake Tahoe; inched up 1.7 percent in Elko County and increased by 3.5 percent in Carson City.

CORRECTION: | (April 10, 2012)

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