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Nevada Casinos Have Record $930.3 Million Win in March
Nevada casinos had a record month in March, winning $930.3 million
from gamblers for an 11.5 percent gain over the same month a year
earlier.
The state Gaming Control Board reported Tuesday that the March win,
which eclipsed the previous monthly record of $900 million hit in
January 2001, brought the January-March win total to $2.69 billion — up
10.4 percent compared with the same quarter last year.
The win pushed the total for the fiscal year to date to $7.52 billion
lost by gamblers in slot machines at card and dice tables. That’s up 4.4
percent over the same point in the prior fiscal year.
State revenues based on the fiscal-year total amount to $567 million.
That’s 5.8 percent above a May 2003 forecast by the state’s Economic
Forum.
"What makes these numbers so impressive is that they’re not fueled by
new casino properties," said the Control Board’s Frank Streshley. "This
is just fueled by the economy picking up."
"Clearly the state is benefiting from the resurgence and overall
strength of Las Vegas," Gov. Kenny Guinn stated. While downtown Las
Vegas casinos saw a 10.9 percent slump in win due mainly to two casino
closures, all other major southern Nevada markets were up.
The Las Vegas Strip won half of all the money taken in during March
by casinos around the state, $465.4 million for a 17.7 percent gain.
That’s a record monthly win for the Strip — and record wins also were
posted in the Mesquite, Boulder City, North Las Vegas and outlying Clark
County markets.
Guinn also said there were "signs of recovery in the other markets"
in northern Nevada. The Reno-Sparks-North Tahoe area was up only 0.4
percent in March, but Streshley said breaking even is still good given
new Northern California competition.
Clubs in the Reno-Sparks area have had only three monthly percentage
increases since the opening of the Thunder Valley Indian gambling casino
near Auburn, Calif., last summer.
Elsewhere in northern Nevada, the March win was $26.7 million, up 5
percent, for casinos on Lake Tahoe’s south shore; $20.4 million, up 5.7
percent, for casinos in Elko County, bordering Utah and Idaho; and $8.9
million, up 1.6 percent, for clubs in the Minden-Carson City area.
The win is what was left in casino coffers from $12.6 billion bet by
gamblers during March. "Win" is 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 the resorts.
Read the
entire article at:
SFGate
2004 Online Casino News Archive
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