Nevada casinos gain in April
June 8, 2007
Although Nevada casinos had a good month in April, Carson City and Stateline had their worst month of the year.
Statewide total gaming win was $1.05 billion for the month, a 6.4 percent increase over the same month in 2006.
Gaming Control Board analyst Frank Streshley said that came as somewhat of a surprise since last April was very strong, 12.7 percent up from the year before, and this April had an unfavorable calendar.
He said it may be because this April had one less weekend day, and the only major event of the month was the grand prix.
The increase was helped by $60.4 million in Baccarat winnings, an 8.2 percent increase.
The grand prix was held downtown Las Vegas and provided that area enough customers to post its first positive month in 11 months – an 8 percent increase to $56.5 million.
Recommended Stories For You
In contrast to the state as a whole, the Carson Valley area, which includes valley portions of Douglas County and the capital city, reported a total win of just more than $9 million – nearly 10 percent less than last year. And last year was off by some 6 percent from the year before. That came as a surprise to some considering the city normally does well when the Legislature is in town.
The problem was, apparently, lucky slot players. While the amount played in Carson slots was just about the same as April 2006, total win dropped 7.6 percent. In addition, Streshley said, game and table win fell 33 percent.
For the 10 months of this fiscal year, Carson Valley is down 2.1 percent.
Stateline casinos reported a 24.5 percent drop in total win to $211.7 million. At Lake Tahoe, Streshley said the big change was in game and table win which fell 23.8 percent. But the totals are in comparison to the 22 percent increase in win Stateline casinos recorded last April.
Statewide, sports books had a tough month with total win down nearly 71 percent. Streshley said the books actually lost $2.6 million to basketball bettors.
State regulators collected more than $56 million in May based on April’s casino winnings. That brings the state to just 1.3 percent behind the Economic Forum’s revenue projections – a difference of $9.7 million.
And Gov. Jim Gibbons predicted the state would finish the fiscal year strong. Regulators are anticipating a strong increase when May’s numbers come in because of the high-range gamblers drawn to Las Vegas by May’s De La Hoya/Mayweather fight.
• Contact reporter Geoff Dornan at email@example.com or 687-8750.