Casino win up in September, Stateline posts modest gain over last year
Nevada casinos posted a solid 7.45 percent increase in total win for September.
But control board analyst Frank Streshley attributed the gain mostly to the weak showing by casinos in September 2006, which was down compared to the year before that.
“Win” is a gross figure, with no operating costs or other expenses deducted. It represents casino revenue only, not hotel, restaurant or bar revenues.
Gaming tax collections, however, were up significantly ” 26.5 percent over the same month last year to $74.3 million. That brought total gaming tax revenue back to within a percent of the amount forecast by the Economic Forum and used to build the state budget.
Total win was just over $1 billion. Almost one third of the $73,,4 million increase, he said, came from the sports pool, which posted its second best month ever at $44.9 million. That is double the sports pool win a year ago.
Primarily football betting offset a 23 percent drop in Baccarat win. The total bet on Baccarat during September was actually up nearly 6 percent to $414.7 million. But the players were luckier than normal.
Both southern Nevada and the Elko area did well, many markets posting double digit increases. In western Nevada, the story wasn’t as positive with the exception of Stateline.
The only bright spot in the area was South Shore where win increased 5.6 percent to $29.3 million. But, like the state as a whole, Streshley said the reason was that September 2006 was a very weak month for the Tahoe casinos ” off more than 10 percent from 2005.
The Carson Valley Area, which includes valley portions of Douglas County, saw total win fall 6.3 percent to $10.6 million. Slot win was down 6.5 percent and games win down 1.5 percent.
Washoe County’s total was down 1.6 percent to $96.9 million as lower totals in Sparks, North Shore and the county more than offset a half-percent increase in Reno.
North Lake Tahoe casinos reported a 5 percent drop to $3.9 million with a 7.5 percent dip in slot win more than offsetting a 3.5 percent gain in game and table profits.
Clark County, however, posted a gain of nearly 9 percent to $879 million with downtown, North Las Vegas, the Boulder Strip and Mesquite all up by double digit percentages.
Elko was also up double digits ” 13.5 percent to $27.5 million ” as the mining boom continued in eastern Nevada.
” The Associated Press contributed to this report
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