Nevada casino revenue continues slide

Jun 5, 2009 8:54 PM
Staff & Wire Reports | Nevada casinos continued to slump in April, reporting winnings were down more than 14 percent compared with April 2008, according to a state report released today.

The Gaming Control Board said the casino win of just over $859 million in April was down from $1 billion a year ago. It’s the 16th consecutive monthly decline in a key economic factor for the state.

For the fiscal year to date, casino winnings total just over $9 billion. That’s down 14.2 percent.

The Control Board’s report on the casino win shows declines during April in many major markets in the state, including the Las Vegas Strip which was down 15.8 percent.

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Elsewhere in southern Nevada, North Las Vegas was up 5.4 percent, Laughlin was off 17.8 percent, downtown Las Vegas declined 14 percent, Mesquite was down 16.3 percent and the Boulder Strip was up 2.3 percent.

In northern Nevada, clubs in Washoe County, which takes in Reno, were down 16 percent. It was the 22nd consecutive month of declines for the area.

Resorts on Lake Tahoe’s south shore reported a 35.4 percent decrease in April compared with the same month a year earlier.

A statewide breakdown shows that slots were off 11.2 percent while table games were down 20.5 percent compared with April 2008.

Slots accounted for $596.2 million of the total win. That included $284.2 million won by multi-denomination slots, down 4.9 percent. Penny slots were second with a win of $160.1 million, up 5.5 percent.

Race and sports books took it on the chin in April, as revenues were down 19 percent in the race books.

Sports books saw revenues plummet 50 percent in April to $4.4 million.

Live games, including poker, accounted for the balance of the April total. That included $52.7 million won on baccarat, down 12 percent; $90.3 million won on blackjack tables, down 26.6 percent; $30.4 million on craps, down 14.8 percent; and $23.3 million on roulette, down 13.9 percent. Sports books won $4.4 million, down 50 percent.

"Win" is a gross figure, with no operating costs or other expenses deducted. It represents casino revenue only, not hotel, restaurant or bar revenues