Casinos win $12.7 billion in FY2007
Nevada casinos set a record for total winnings in fiscal 2007, raking in $12.7 billion dollars.
But the Carson Valley area, which includes valley portions of Douglas as well as casinos in the capital city, didn’t share in the success. In fact, the area posted its first year-over-year decline in total win in 14 years – $122.5 million which is 1.7 percent less than fiscal 2006.
Gaming Control analyst Frank Streshley said operators he talked to blame the economy.
“They said headcounts looked good. They just weren’t spending as much money as they were a year ago,” he said.
Stateline casinos were also off for the year by 3.2 percent to $332.6 million.
Although a new record, the 4.6 percent growth is the smallest for the state in a decade, also a reflection of the economy according to Streshley. Fiscal 2006 win, for example, was 10.7 percent higher than the previous year.
The extremes were both in the south where the “balance of Clark County” gaming win rose 15.7 percent at the same time downtown Las Vegas casinos saw their win decline 3.8 percent.
Game and table winnings rose 7.6 percent to $4.4 billion, $900.5 million of that from Baccarat, which increased by 20.6 percent.
Total slot win was $8.3 billion, a 3.1 percent increase. Over the fiscal year, $138.5 billion was wagered in slot machines and $31.9 billion on table games.
The June win figures, which completed the fiscal year, followed the year-long pattern for the most part. The $959.8 million total was a record for June winnings and 5.7 percent more than June 2006. But Carson Valley casinos showed a 7.9 percent decrease to $10.2 million.
And Stateline was down for the month, although only by 2 percent. Streshley said that was a pleasant surprise because both operators and gaming regulators had feared the Angora fire would cause a much bigger dip by ruining business the final week of June. There was some speculation fire crews, raking in excellent overtime on the fire, helped make up for the reduction in tourist traffic.
• Contact reporter Geoff Dornan at firstname.lastname@example.org or 687-8750.
By the numbers
Area FY2007 Win Percent Change
Statewide $12.74 billion 4.6%
Carson Valley $122.55 million -1.7%
South Shore $332.6 million -3.2%
North Shore $43.46 million 1.8%
Washoe County $1.069 billion -0.3%
Reno $767.4 million -1%
Clark County $10.74 billion 11.8%
Las Vegas Strip $6.75 billion 5.9%
Area June Win Percent Change
Statewide $959.8 million 5.74%
Carson Valley $10.28 million -7.97%
South Shore $26.9 million -1.98%
North Shore $3.96 million 12.14%
Washoe County $92.79 million 4.38%
Reno $67.67 million 5.93%
Clark County $789.66 million 6.09%
Las Vegas Strip $500.02 million 13.29%