News Column

Nevada Gaming Revenue Off 3.1 Percent in August

Oct. 11, 2012

Cy Ryan, Las Vegas Sun

Gaming revenue in Nevada was down 3.1 percent in August compared to the same month a year ago, with Las Vegas Strip revenue down 1.1 percent, the state Gaming Control Board reports.

Baccarat play in Las Vegas Strip casinos was strong in August, but the slot machine win was down. Strip casinos had a gross win of $490.9 million.

All the gaming markets in Clark County were down except Mesquite, which posted a 4.2 percent increase in win, computed before expenses and taxes.

August was the third month in the last four that gaming revenue on the Strip has fallen. The 41 casinos on the Strip account for more than 50 percent of the gaming volume in Nevada.

Winnings from the 260 baccarat tables on the Strip jumped by 31.6 percent, with the gross at $124.4 million. Slot machine wins dropped 9.1 percent to a gross of $230.9 million.

"Baccarat is once again carrying the load. Without baccarat, gaming win on the Strip would have been down 9 percent or $29.9 million," said Michael Lawton, senior research analyst for the board. "Customer spending is not like we would like to see in slot volume."

The board reported an increased win of 3.6 percent from blackjack tables, but craps was off 42.9 percent and roulette dropped 19.8 percent. Sports betting, aided by the opening of football season, jumped 745.7 percent, but the gross win was only $3.6 million.

In the rest of Clark County, the gaming win fell in downtown Las Vegas by 8.4 percent; by 13 percent in North Las Vegas; by 2.2 percent in Laughlin; by 17.7 percent on Boulder Highway; and by 0.5 percent in the rest of the county.

The only place in Northern Nevada that showed gains was in Washoe County, up 5.1 percent. South Lake Tahoe dropped by 19.4 percent and Carson City was off by 1.7 percent.



Source: (c)2012 the Las Vegas Sun (Las Vegas, Nev.) Distributed by MCT Information Services