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Las Vegas Casinos Total Win Improvement in September

On November 9th, 2007, the casinos in Las Vegas posted a 7.45% improvement in total wins for the month of September. But gaming control board analyst Frank Streshley commented that the gain was mostly because of the weak performance of the casinos in September 2006, which was weaker compared to the period before that.

Gambling tax collections improved significantly-26.5% over the same month in 2006 to $74.3 million. That brought the total gambling tax profits back to the amount predicted by the Economic Forum and utilized for the state budget. The total casino win was more than $1 billion.

About 1/3 of the $73.4 million improvement came from the sports pool, which achieved its 2nd best month at $44.9 million. That is twice the total sports pool win almost a year ago. Football wagering cushioned a 23% slide in total baccarat win.

The total wager on baccarat during the month of September improved 6% to $414.7 million. But gamblers were a lot luckier than normal. Both southern Nevada and Elko also did well, posting double digit improvements. But the situation in Western Nevada was not as good compared to other areas. In Carson Valley, which includes Douglas County, saw the total win slide down 6.3% to $10.6 million.

Total slots wins slid down to 6.5% and games total win slid down to 1.5%. Washoe County's total win slid down to 1.6% to $96.9 million as smaller totals in Sparks, North Shore and the county more than offset the increase in total wins in Reno. North Lake Tahoe casinos stated a 5% slide down to $3.9 million with a 7.5% slide down in total slot which will offset the 3.5% gain in casino table games profits.

The only good thing in the area was the South Shore results where total win increased 5.6% to $29.3 million. But Streshley said the main reason was that September 2006 was a bad month for the casinos in Tahoe-weak more than 10% from 2005. Clark County posed a gain of 9% to $879 million in downtown, North Las Vegas, the Boulder Strip, Mesquite with double percentages. Elko achieved an improvement of 13.5% to $27.5 million.


11/21/2007 05:49 PM
Davis Coulter