Nevada revenues slip 13 percent in fiscal 2009

Aug 11, 2009 8:16 PM
by David Stratton |

Nevada casinos posted gaming revenues of $818.2 million in June, bringing its fiscal 2009 year-to-date total to $5.22 billion – a 13.5 percent drop-off from the $6.036 billion won during the first six months of 2008.

June’s win was 13.8 percent less than the $918 million casinos won in June 2008, according to the state’s Gaming Control Board revenue report released today.

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Virtually all areas of Nevada casinos suffered double-digit declines in June: slot machine revenue slipped 14.6 percent to $567 million; table games were down 12.6 percent to $234 million; and sports betting was off 31.7 percent to $5.1 million.

There were a few bright spots, however. Nevada’s poker rooms actually increased revenues 0.23 percent to $16.2 million, and the baccarat tables played lucky for the house, which won $47.7 million, 6.5 percent more than a year ago.

The roulette tables also were kind to the house, which won $24.4 percent, a 7.4 percent year-over-year increase.

Among the electronic games, only penny slots posted an increase – they won $155.5 million from gamblers, about half a percent more than a year ago.

Note, that there are more penny slot machines – about 39,000 – in the state than any other denomination, except for "multi-denomination" machines (about 86,000), which mostly contain penny denomination games.

As noted, overall gaming revenue was down 13.5 percent for the first half of 2009. For fiscal 2009, slot machine revenue slipped 12.9 percent to $3.512 billion, while table games saw revenues decline 15 percent to $1.633 billion.

Once again, Nevada’s poker rooms showed they have been least affected by the economic downturn. For the first six months of 2009, Nevada’s 106 poker rooms raked in $77.6 million, just a 4.6 percent drop-off from the $81.4 million they held during the same period last year.

Question? Comment? E-mail me at: David Stratton