Casino gaming win decreases for month
There’s a scene in “Lost in America” when Albert Brooks’ character asks a casino manager to return the “nest egg” his wife lost gambling.
The manager diplomatically told him how he couldn’t grant the unusual request – explaining that some people win and others lose, and that’s why they call it gambling.
Well, it appears some Lake Tahoe gamblers may have either raked it this past October or shied away with the cold weather because the month’s gaming revenue was down by over 13 percent, the Nevada Gaming Control Board reported.
The $24.7 million in collections were released Tuesday, after a spate of increases over the summer months, including a record season at Harrah’s Lake Tahoe, spokesman John Packer said.
“We were down in October – not a great deal,” Packer said, attributing the drop to the structure of the month, winning gamblers and the weather.
“(October) really put a chill on things.”
Still, the casino is ahead of last year by about 9 percent in year-to-date figures – calling October “an unfortunate blip on radar” in comparison to a banner summer at Stateline.
North Tahoe collections for the fall month also dropped by 10 percent to $3.1 million, in contrast to the state’s 2 percent gain of $811.3 million. About half that amount was pulled in on the Las Vegas Strip, with an increase of 2.7 percent.
Lake Tahoe Gaming Alliance Executive Director Steve Teshara said it’s not unusual for pockets of the state to do better than others at times.
Like Packer and gaming control board spokesman Frank Streshley, Teshara cited fewer weekend days in October than last year as one reason for the slump in collections.
The casino “win” – separate from hotel, restaurant or bar revenues and other operating costs and expenses – is the amount left in casino coffers, after payouts to gamblers are subtracted from the money bet on tables, in slots and on sports events.
The latter bettors were especially lucky in October, too, Streshley told The Associated Press. Their bookmakers reported taking in 70 percent less than they did in the same month last year.
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