Stateline casinos post 9.7 percent gaming win
July 17, 2013
Casinos at Stateline posted a 9.7 percent increase in the gaming win for the month of May, according to information released last week by the Nevada Gaming Control Board.
Stateline casinos raked in $14.6 million during the month, up from $13.3 million in May 2012.
The casinos reported a 9.7 percent increase entirely because of play in what, for smaller markets, is called "other games." Translation: Baccarat.
That category grew by nearly 6,000 percent compared with a year ago, bringing in $3.1 million for the Tahoe resorts. Without "other games," Stateline would have been down 13 percent for the month.
With only one month left in the fiscal year the chief source of gaming revenue for Douglas County was 5 percent ahead of last year with $198.98 million.
The Carson Valley area, which includes all of the East Fork Township and Carson City, posted a 7.4 percent increase in gaming win to $8.85 million. That was a rare entry in the plus column and not enough to bring gaming numbers for the year into positive territory. So far, Carson Valley and Carson City casinos have brought in $89.4 million, 1.89 percent down from last fiscal year.
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Gaming Control Board analyst Mike Lawton said the capital was up against a very easy comparison, given that the win was down 10 percent in May 2012. He said the May numbers are the first increase for Carson Valley since September 2012.
Statewide gaming revenue collections jumped nearly 11 percent in June, finishing the fiscal year 3.9 percent above last fiscal year.
Lawton said the $678.7 million in total revenue to the state during the past 12 months is a full 1 percent — or $6.3 million — more than projected by the Economic Forum.
The forum projections are used to build the state's budget and are based on the gaming-percentage fees assessed on casinos statewide. The percentage fee, essentially the gaming taxes, ranges as high as 6.75 percent of total gaming win reported by Nevada's largest casinos. It produces nearly 30 percent of state general fund revenue.
May gaming win came in at $897.2 million, just 1.37 percent or $12.1 million above the same month of 2012.
That is essentially flat, despite a 6.4 percent increase to $505.4 million on the Las Vegas Strip. The Strip increase was almost completely offset by significant decreases in most of the other Clark County reporting areas, including a decline of nearly 20 percent in North Las Vegas and 18 percent on the Boulder Strip.
The Strip did well because of a favorable calendar, with one more Friday than last year along with special events. There was a high-profile Floyd Mayweather Jr. fight, a Rolling Stones concert, and the Michael Jackson Immortal show, which opened May 24.
Those events helped generate baccarat play, which jumped more than 25 percent compared with a year ago. But that was an easy comparison, given that the game fell 48 percent in May 2012.
Nonetheless, total statewide win would have been down nearly 1 percent without baccarat.
Gaming "win" is the take casinos kept after players wagered $12.5 billion on card and table games, and slot and video gambling machines.