Las Vegas Strip casino winnings up nearly 13 percent

May 12, 2011 9:20 AM

Casinos on the Las Vegas Strip saw their winnings jump nearly 13 percent in March from the same month a year ago, helping the state report a gain and the highest win since September 2008, the Nevada Gaming Control Board said Tuesday.

The statewide win was $958.7 million in March, up 5 percent over last year. It marked the first increase compared to a year earlier since October, said Mike Lawton, senior control board analyst.

Taxes collected totaled $79.6 million, a decrease of 0.35 percent. Tax collections do not always reflect the trend in winnings because casinos do not pay their percentage fees on wagers made on credit until the debt is paid.

On the Las Vegas Strip, the $527.3 million won was up 12.9 percent. Strip resorts are the gambling mecca of Nevada and account for about half of all casino revenues statewide.

The "casino win" refers to the amount left in casino coffers after gamblers wagered $11.9 billion at tables games and slot machines. A breakdown shows the $9.3 billion gamblers pumped into slot machines was down 0.6 percent, or $50 million; while the $2.6 billion wagered on table games was up 8.1 percent.

Baccarat, a high-stakes game favored by Asian players, brought in $81.8 million, up 29 million or 55 percent compared with the same month last year, the report said. Additionally, the $708.9 million wagered on the game was up $83 million or more than 13 percent.