Tahoe casinos ‘win’ are down | SierraSun.com

Tahoe casinos ‘win’ are down

LAS VEGAS (AP) – Nevada casinos, mostly in Las Vegas, won the most money from gamblers in a single month than ever before in July, raking in $1.146 billion as luck favored the house.

But Northern Nevada and Tahoe casinos were down.

The casinos’ so-called gaming win was up 10.3 percent from a year earlier and beat the previous record of $1.144 billion in May.

The state’s hold percentage, or the amount won by casinos as a percentage of the total amount wagered, was 15.03 percent. A year earlier, the hold percentage was 13.38 percent, which is normal, said Gaming Control Board analyst Frank Streshley.

Win at casinos in Washoe County was down, however, by 7.7 percent, at $92.1 million. Revenue from Reno casino floors fell 8.8 percent, and dropped 7.3 percent in North Lake Tahoe, but rose 1.2 percent in Sparks. The rest of the county saw revenue fall 15.1 percent.

Tahoe’s South Shore saw revenue fall 7.3 percent, while Elko County casinos took in 14.7 percent more.

Carson Valley-area casinos saw revenue drop 4.4 percent.

The “win” is what’s left in casino coffers after payouts to gamblers are subtracted from money that’s bet on tables, in slots and on sports events. It’s a gross figure, with no operating costs or other expenses deducted. And it’s casino revenue only ” separate from hotel, restaurant or bar revenues generated by casinos.

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