Tahoe casinos end year on sour note

Geoff Dornan

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” — 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.

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.

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.