No snow leads to Tahoe casino struggles in February
April 2, 2014
CARSON CITY, Nev. — February gaming win dropped 13.7 percent to $926 million in February, but that’s largely because February 2013 was so strong, said Gaming Control Board Analyst Mike Lawton.
That month saw the highest total win since September 2007, led by a one-month record in Baccarat win.
As usual, Baccarat was the reason for the difference, falling 40 percent, or $105.4 million, from a year ago to $158.4 million. That decrease accounts for most of the $147 million drop in total statewide win.
But other table games — blackjack, craps and roulette — also fell, and slot win was down about $3 million.
One bright spot was the 114 percent increase in sports book win, primarily because of the Super Bowl. Total win for the books was $30.6 million.
Because nearly all Baccarat play is in the Strip casinos, win in that reporting area fell to $555.7 million, 20.2 percent below the record total of $696.1 million a year ago.
Both Lake Tahoe reporting areas suffered in February; operators at the lake say that’s because the lack of snow meant very few skiers.
North Shore casinos were hardest-hit, seeing a 22.2 percent drop to $1.7 million.
On top of the weather, North Shore was up against a tough comparison because February 2013 was up 35 percent over the previous February. This year, slot win was down 18.8 percent, or $248,000, and game and table win were off 27 percent, or $239,000.
South Shore casinos at Stateline suffered a 9.5 percent drop to $14.7 million, a $1.5 million decrease. Operators said the lack of snow was hurting room occupancy there. It marks the fifth consecutive decline at South Shore, and win is down 4.1 percent for the fiscal year.
Washoe County casinos won $58.69 million in February, a 1.4 percent, or $839,000, decrease from a year ago. But for the fiscal year, Washoe is actually up 2.5 percent.
Churchill County casinos reported a 1.2 percent decrease in total win. The 2.7 percent dip in slot win was mostly offset by a 46.2 percent increase in games win, but the vast majority of Churchill’s casino win is from slots since just four locations offer game and table play. Total win for the month was $1.68 million, with just $64,000 coming from the tables.
The designated Carson Valley Area, which includes valley portions of Douglas County, saw a 1.8 percent decrease in win to $7.46 million. The $140,000 decrease follows a 3.4 percent dip last February. That marks the third consecutive monthly decrease.
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