Manny Pacquiao fight helps casinos post first win increase in 22 months
After 22 months of decline, Nevada casinos posted a 4.35 percent increase in gaming win in November – a total of $873.2 million.
Almost all the credit for the increase goes to baccarat, which increased 138 percent compared with November 2008 and accounted for $94.2 million of the total, said Gaming Control Board Analyst Frank Streshley. Many of those players were drawn by the Manny Pacquiao-Miguel Cotto fight at the MGM in Las Vegas, he said.
Without baccarat, game and table win was actually down. Craps, 21 and poker all posted declines compared to the previous November. Slots were down by 1.6 percent.
Streshley said it helped that this November was comparing to a very soft month a year ago when win was down nearly 15 percent. In addition, he said there was one more weekend day this November than last.
Western Nevada markets didn’t see an increase for November. The Carson Valley Area, Washoe County including North Lake Tahoe and South Shore casinos all saw declines.
The worst numbers were at South Lake Tahoe, where win fell 26.7 percent to $15.9 million. It’s expected to get worse in December because of the closure of Bill’s.
In the Carson Valley Area, which includes Carson City and valley portions of Douglas County, total win was down 10.55 percent in November to $7.46 million. That is on top of a 16.4 percent decline last November. While slot win was off 12.7 percent, game and table win fell 25 percent.
North Shore casinos were down 16.2 percent in November. That is on top of a 27 percent decline last November. Those casinos won just $1.7 million.
Washoe County suffered its 29th consecutive month of declines, at 4.24 percent.
Streshley said visitation on the Strip over New Year’s weekend was good, which should be further helped by the opening of City Center.