Geoff Dornangdornan@nevadaappeal.com

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July 17, 2012
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State gaming win down 10 percent in May

CARSON CITY, Nev. — May was a bad month for both the state as a whole and western Nevada casinos as gaming revenue dropped 10 percent from a year ago.For the month, statewide revenue, or “win,” was just over $885 million.Gaming Control Board Analyst Mike Lawton said there were a number of factors contributing to the numbers. He pointed out that because May 2011 was such a good month, the numbers are not as bad as they first seem.“It was a tough comparison,” Lawton said, pointing out that May 2011 was the largest total win reported statewide since 2008, with the strip up 28.9 percent.The second key factor was the total win for Baccarat. The win was down 48 percent from a year ago —a difference of $68.5 million.The Carson Valley Area, which includes valley casinos in Douglas County, was also down 10 percent to $8.2 million in total win. It was the area’s third consecutive monthly decline and leaves the capital 2.3 percent down with just one month left in the fiscal year. The problem was almost exclusively in slot play, which makes up the vast majority of win in the reporting area. Win was down 9.3 percent or $787,000 on volume of play that fell 6.2 percent below a year ago.For South Lake Tahoe casinos at Stateline, a 26.9 percent drop in May leaves chances of finishing the year up for the first time in a long time in serious doubt. It was a difficult comparison since South Shore was up 15 percent a year ago. The primary culprit was game and table win, which fell 64.6 percent in May.With this May’s $13.3 million drop, South Shore casinos have now reported three consecutive months of declines. That leaves the casinos just eight-tenths of a percent ahead of last year’s total with a month left in the fiscal year.In May, the Las Vegas Strip, which accounts for more than half of total win, was down just over 18 percent to $475 million. That was partially offset by positive numbers on the Boulder Strip, Laughlin and balance of county casinos.Washoe County was down 5.2 percent despite the fact it was an easy comparison to a year ago when total win fell 6.6 percent.While slot win was off just 3.3 percent, game and table win fell 13.2 percent this May. Total win was $62.3 million.The core of the problem continues to be declining volume of play for Reno-area casinos that must compete with several major Indian casinos in California.Total gaming tax collections for fiscal 2012 were $653.6 million.That is a quarter of a percent higher than in fiscal 2011 but 1.8 percent below the Economic Forum forecast used to build the state’s current budget.


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Tahoe Daily Tribune Updated Jul 17, 2012 06:02PM Published Jul 17, 2012 06:02PM Copyright 2012 Tahoe Daily Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.