Tahoe casinos take big hit in March | SierraSun.com
YOUR AD HERE »

Tahoe casinos take big hit in March

Driven by a $74.8 million increase in baccarat take, statewide gaming win increased by 7 percent in March to $914.78 million.

Gaming Control Board Analyst Mike Lawton said that without baccarat, almost entirely on the Las Vegas Strip, total win would have increased just one-third of 1 percent compared with March 2012.

The “win” is what was left in casino coffers after gamblers wagered $12.1 billion. A breakdown indicates $9.5 billion was plunked into slot and video machines, while $2.6 billion was bet on card and table games.



The statewide gain translates to a $60.2 million increase in total win. Of that increase, baccarat accounted for $48.6 million.

Lake Tahoe’s South Shore casinos experienced a 10.95 percent decrease in total win to $11.3 million. The cause of that drop was the “other games” category, which, at Stateline, means baccarat. The Tahoe casinos actually lost money on baccarat in March, a sharp contrast to a year earlier, when they kept 25.6 percent. Without that loss, South Shore would have been up 6 percent for the month.



Washoe County casinos were the bright spot in the north, with an overall increase of 9.5 percent to $67.2 million. North Shore casinos at Crystal Bay reported a 15.4 percent or $283,000 increase to $2.12 million. Blackjack accounted for $236,000 of that total as unlucky players allowed the casinos to keep 17.4 percent of everything bet on the tables.

Reno had a 10.8 percent increase to $48.8 million, fed by the opening month of the U.S. Bowling Congress men’s tourney. The bowlers apparently didn’t get to Sparks, 3 miles east; the win there was up just two-thirds of 1 percent, to $10.9 million.

Lawton said April could be even better for Reno since the women’s USBC tournament opened.

For the nine months of this fiscal year, total win is up 2.8 percent to $8.36 billion statewide. Year-to-date revenue collections from gaming, however, are up 3.8 percent to $574 million.


Support Local Journalism

 

Support Local Journalism

Readers around Lake Tahoe, Truckee, and beyond make the Sierra Sun's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.

For tax deductible donations, click here.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User