Lake Tahoe casinos hit jackpot in October gaming win | SierraSun.com

Lake Tahoe casinos hit jackpot in October gaming win

Staff report
Gaming win saw increases in October at both the north and south shores of Lake Tahoe.
Courtesy photo |

INCLINE VILLAGE, Nev. — While Nevada’s gambling revenue in October was down for the third month in a row, North Tahoe casinos finally saw a month in the black.

The North Shore brought in $1.96 million in revenues last month, a 10.4 percent increase from October 2013, according to the Nevada Gaming Control Board.

The biggest jump for North Tahoe was from 21 tables, which saw a 73 percent increase — $180,000 in win.

October’s success comes after a September loss of 15.4 percent.

It was North Tahoe’s first month of win since May.

For calendar year 2014, North Tahoe’s win is down 7.8 percent.

The NGC counts five casinos in the North Shore area: Hyatt Regency Lake Tahoe, Crystal Bay Club, Tahoe Biltmore, Jim Kelley’s Tahoe Nugget and the Cal Neva. The Cal Neva’s casino remains closed as renovations continue on the property.

Meanwhile, on Tahoe’s South Shore, Stateline properties recorded a banner month, raking in $18.7 million in revenues, the highest total in the last six years.

That’s a 52.7 percent jump — or, more than $6 million. It now puts Stateline in the red by just 1 percent so far this calendar year.

Stateline brought in only $12.29 million in October 2013. In 2012, the casinos brought in $15.8 million, and $15.7 million in October 2011. They haven’t been as prosperous since winning $20.89 million in 2008.

As for the state, casinos kept $914 million of all the wagers and bets made in October, 4 percent short from the same time a year ago. That’s in large part due to a 5.6 percent decline on the Las Vegas Strip, which generates more than half of the entire statewide total.

Other areas of the state had a winning month. Downtown Las Vegas revenues of $48 million were up 1 percent, while Reno-Sparks casinos brought in $47 million in October, up 8 percent.

For Reno-Sparks, October’s turnaround marked just the third month so far in 2014 showing an increase, and for the fiscal year that began July 1, gaming revenues in Washoe are up about 1 percent.