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Thursday, Aug. 9, 2012 | 9:30 a.m.
CARSON CITY — For the third time in the last four months, the casino gambling win on the Las Vegas Strip dropped, falling 4.5 percent in June. Statewide, it was off 6 percent compared to the same month a year ago.
This follows an 18.1 percent drop on the Strip in May.
For the fiscal year that ended June 30, the win on the Strip was about flat, up 0.6 percent.
Every casino area in Clark County, except Mesquite, posted lower winnings. In North Las Vegas and Laughlin, the win was down by more than 20 percent for the month.
The board said the win in June at the 37 casinos on the Strip totaled $483.7 million, compared to $506.7 million in the same month a year ago.
“It was a lousy quarter,” said Michael Lawton, senior research analyst for the state Gaming Control Board.
The only bright spots on the Strip were roulette winnings, which were up 33 percent and sports betting, which saw an increase of 128 percent, largely the result of betting on basketball during the NBA playoffs.
Strip casinos reported the house win on blackjack was off 4.8 percent; craps fell 21.9 percent; the baccarat win dropped 3.9 percent; and the slot win fell by 4.5 percent.
The board reported the casino win in downtown Las Vegas fell 12.7 percent; North Las Vegas was off 26.1 percent; Laughlin casinos registered a drop of 20.3 percent; and the Boulder Strip declined 22.8 percent.
Casinos in Mesquite reported a 5.2 percent increase in gaming win, while the balance of Clark County had a 4.3 percent decline.
Casinos in Northern Nevada, meanwhile, experienced gains.
The board said Washoe County casinos posted a 7.2 percent gain in gambling win; South Lake Tahoe jumped 17.1 percent; and Elko County and Carson City each registered a 1 percent increase from June a year ago.
Statewide, the gambling win for the fiscal year that closed June 30 was $10.7 billion, up 0.66 percent.
The state collected $38.2 million in taxes based on the June business, a 27.4 percent decline.
Not a good sign. This tells me things are deteriorating in a pattern and it's not just a blip.
Roulette winnings are up? Roulette is a terrible play. Blackjack, craps and baccarat are the table games to play.
i say the best game to play is NOT TO PLAY. They are all FOS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!U don't see Sleaze Harry playing? He has that reliable source ! What a PU***!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Daydreamer, I agree with you all signs are pointing toward a double dip recession. Some news agencies and PBO say we're out of the recession. I say not here, not in Vegas. The housing market isn't showing gains even as home prices inch up, what's really about to happen is that when all those about to be foreclosed on homes start coming down the pipeline we'll have another 2009 burst bubble that was lower than before to come down from.
A blogger on the RJ's version of this story pointed out that June 2011 had 5 weekends compared to 4 this year. In addition, since wages have remained flat, people really may not have the money for gambling--especially if they want to enjoy the dining, club, shopping and show options offered here. A better comparison should be a listing of gaming revenue, room revenue, dining revenue, show revenue, club revenue, retail revenue. There are lots of elements competing for the same money coming in to LV.
How many people are even playing craps? Need $5 tables during the evening hours. Who can afford $10-$25 craps?
Cue the Chicken Littles. Oh, wait, they already showed up.
Where were all these armchair analysts when the economic indicators were tanking in 2007 & 2008?
One month of bad news is not a "pattern".
The definition of a recession is not based on the number of empty or underwater homes.
And gas prices go up every summer. Called "supply & demand".
Thanks for the chuckles, though.
So when home buying goes down in winter months as it traditionally does and all of a sudden prices start going back down let me know what's going on with our economy.