8 June 2004
by Cy Ryan
www.lasvegassun.com
CARSON CITY -- For the third straight month, Nevada casinos posted a double-digit increase in winnings with strong business on the Las Vegas Strip.
The state Gaming Control Board reported today the clubs reported gross revenue of $826.9 million for April, up 11.05 percent, a record for this month. The old record was $799 million posted in April 2002.
Gov. Kenny Guinn said the win numbers, computed before business expenses and taxes, "demonstrate the strong resurgence of our gaming and tourism markets." However he noted the April numbers are compared to "last April's soft results when Nevada was down 6.9 percent at the beginning of the Iraq war."
And the win of $826.9 million is below the record $930.3 million posted in March by the casinos.
Frank Streshley, senior research analyst for the board, said there has been strong convention and leisure travel business in Southern Nevada. He said 3,000 hotel rooms have been added in the last six months and there has still been an increase in the area's occupancy rate.
So far this fiscal year, the casinos have paid $622.3 million in taxes, up 22.1 percent. Streshley said statewide table games win produced $251.8 million, up 14.9 percent. Baccarat recorded a 72.9 percent increase to $27.87 million during the month.
The 21 table revenue rose 27.1 percent statewide; craps was up 0.2 percent; roulette fell 22.7 percent and the sports pool was off 9.2 percent. Streshley said the NCAA's "March Madness" basketball started in March but the favorite college teams won, driving down the win for the casino sports books.
Slot win statewide grew by 9.2 percent to $567.5 million.
Las Vegas Strip casinos reported gross revenue of $414.6 million, an increase of 14.8 percent. In April last year, however, the win fell by 5.3 percent on the Strip.
This was the fourth straight month of a double-digit increase on the Strip.
The board said 21 win on the Strip increased 37.3 percent; craps fell 4.8 percent; roulette was down 29.8 percent but baccarat produced a 74.1 percent increase. The sports pool reported a win of $1.8 million, up 9 percent.
Downtown Las Vegas casinos produced $54 million in gross revenue, up 4.2 percent and only the second time this year that the area has shown an increase. The increase was bolstered by the re-opening of the Horseshoe Club on April 1. Slot revenue rose 6.8 percent and table games inched up 0.9 percent.
The board said North Las Vegas, which had two straight months of double-digit increases, recorded a 7.9 percent decline in gross win of $15.7 million. Slot revenue fell 9.6 percent and table games were off 1 percent.
Laughlin casinos recorded a 13.5 percent increase with $52.6 million in gross revenue. It was the second double-digit increase of the year. The other was 19.8 percent in February.
Slot win rose 13 percent and game and table win jumped 15.8 percent.
After two straight months of double-digit increases, casinos along the Boulder Strip produced $56.4 million, down 1 percent. Slot win fell 4.1 percent but game revenue rose 20.2 percent.
Mesquite casinos reported $10.5 million in win, up 11.3 percent. Slot win increased 10.3 percent and table win rose 16.4 percent
The board said in the balance of Clark County, the gross win of clubs rose 13.2 percent to $74.6 million. This was the third straight month of double-digit increases in this area. Slot revenue increased 11.7 percent and table win jumped 21.5 percent.
Washoe County casinos recorded an 8.1 percent increase to $84 million.
The board said South Lake Tahoe's gross win rose 12.1 percent to $24.8 million.
Elko County clubs reported $18.6 million, up 5.3 percent.
Clubs in the Carson Valley Area had $8.9 million in gross revenue, up 16.3 percent.
by Cy Ryan
www.lasvegassun.com
CARSON CITY -- For the third straight month, Nevada casinos posted a double-digit increase in winnings with strong business on the Las Vegas Strip.
The state Gaming Control Board reported today the clubs reported gross revenue of $826.9 million for April, up 11.05 percent, a record for this month. The old record was $799 million posted in April 2002.
Gov. Kenny Guinn said the win numbers, computed before business expenses and taxes, "demonstrate the strong resurgence of our gaming and tourism markets." However he noted the April numbers are compared to "last April's soft results when Nevada was down 6.9 percent at the beginning of the Iraq war."
And the win of $826.9 million is below the record $930.3 million posted in March by the casinos.
Frank Streshley, senior research analyst for the board, said there has been strong convention and leisure travel business in Southern Nevada. He said 3,000 hotel rooms have been added in the last six months and there has still been an increase in the area's occupancy rate.
So far this fiscal year, the casinos have paid $622.3 million in taxes, up 22.1 percent. Streshley said statewide table games win produced $251.8 million, up 14.9 percent. Baccarat recorded a 72.9 percent increase to $27.87 million during the month.
The 21 table revenue rose 27.1 percent statewide; craps was up 0.2 percent; roulette fell 22.7 percent and the sports pool was off 9.2 percent. Streshley said the NCAA's "March Madness" basketball started in March but the favorite college teams won, driving down the win for the casino sports books.
Slot win statewide grew by 9.2 percent to $567.5 million.
Las Vegas Strip casinos reported gross revenue of $414.6 million, an increase of 14.8 percent. In April last year, however, the win fell by 5.3 percent on the Strip.
This was the fourth straight month of a double-digit increase on the Strip.
The board said 21 win on the Strip increased 37.3 percent; craps fell 4.8 percent; roulette was down 29.8 percent but baccarat produced a 74.1 percent increase. The sports pool reported a win of $1.8 million, up 9 percent.
Downtown Las Vegas casinos produced $54 million in gross revenue, up 4.2 percent and only the second time this year that the area has shown an increase. The increase was bolstered by the re-opening of the Horseshoe Club on April 1. Slot revenue rose 6.8 percent and table games inched up 0.9 percent.
The board said North Las Vegas, which had two straight months of double-digit increases, recorded a 7.9 percent decline in gross win of $15.7 million. Slot revenue fell 9.6 percent and table games were off 1 percent.
Laughlin casinos recorded a 13.5 percent increase with $52.6 million in gross revenue. It was the second double-digit increase of the year. The other was 19.8 percent in February.
Slot win rose 13 percent and game and table win jumped 15.8 percent.
After two straight months of double-digit increases, casinos along the Boulder Strip produced $56.4 million, down 1 percent. Slot win fell 4.1 percent but game revenue rose 20.2 percent.
Mesquite casinos reported $10.5 million in win, up 11.3 percent. Slot win increased 10.3 percent and table win rose 16.4 percent
The board said in the balance of Clark County, the gross win of clubs rose 13.2 percent to $74.6 million. This was the third straight month of double-digit increases in this area. Slot revenue increased 11.7 percent and table win jumped 21.5 percent.
Washoe County casinos recorded an 8.1 percent increase to $84 million.
The board said South Lake Tahoe's gross win rose 12.1 percent to $24.8 million.
Elko County clubs reported $18.6 million, up 5.3 percent.
Clubs in the Carson Valley Area had $8.9 million in gross revenue, up 16.3 percent.
