Tahoe casinos end year on sour note
August 7, 2013
Until figures came in for June, Stateline gaming looked like it was going to have a pretty good year. But a 25 percent drop in the final month of the fiscal year took a big bite out of the win.
The clubs pulled in $12.5 million in winnings, down from $16.5 million in 2012. They finished the fiscal year up just 2.63 percent with $211.5 million.
Good news for Tahoe casinos is that this is the second consecutive year of growth after five straight years of decline. But that total is a full 38 percent below South Shore's peak year in 2004.
The growth at South Shore seems to come from what the monthly gaming report dubs "Other Games" â€” a euphemism primarily for Baccarat in that market.
The Carson Valley area, which includes the East Fork Township in Douglas County as well as the capital, didn't fare so well, reporting a decrease of 1.8 percent for the year despite finishing with a 2.3 percent gain to $8.4 million in June.
The total win of $97.8 million for the year is more than 21 percent below the area's peak of $124.7 million in 2006.
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While slot win for the year was off just nine-tenths of a percent, game and table win fell 10.6 percent.
Statewide, Nevada casinos reported growth in fiscal 2013 for the second straight year after three consecutive declines.
But total win of $10.9 billion is still 14.4 percent below the peak set in fiscal 2007.
Washoe County had its first positive year since major Indian casinos opened in California nearly a decade ago. Overall, the county was up just four-tenths of a percent, to $741 million.
In Clark County, total win was up 2.1 percent for the year, 3.9 percent on the Strip. But most of the local markets in the south were down a bit, overall about 1.1 percent to $2.1 billion.