Nevada casinos earn less than expected from Baccarat

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Due to the bad weather in March, the casinos in Nevada did not get as much money as they expected. Notwithstanding, they managed to make $1.06 billion dollars, which hits really close to the record win reported last January, reaching $1.14 billion.

The most affected areas regarding climate conditions turned out to be Lake Tahoe and Reno. Stateline casinos reported a decrease between 10 and 40% in their incomes compared to last year. Frank Streshley, control board analyst, said that Las Vegas Strip resorts increased their win up to a 6.2% thanks to other events held in the area, such as a Rolling Stones concert, a NASCAR race and the NCAA playoff games.

Downtown Las Vegas clubs were down 5.8 percent, winning $59.5 million. The decrease was due mainly to the closure of the Lady Luck casino a month earlier.

"Win" is a gross figure, with no operating costs or other expenses deducted. It represents casino revenue only - not hotel, restaurant or bar revenues. The win was the money left over after gamblers bet $14.6 billion.

Besides the weather, Streshley said the casinos had lower-than-expected "hold" percentages for some of their games. The clubs' March win of $318.5 million on table games was 12.9 percent of the $2.5 billion wagered on the games, while the $730.4 million slot win was a 6.1 percent "hold" of the $12.1 billion pumped into slots.

Compared with the same month a year earlier, the table game win was up 5.8 percent. A breakdown shows $120.9 million came from blackjack tables, up 9 percent; while baccarat tables around the state won $36.4 million for a 9.1 percent decrease.
Craps took in $43.7 million, down 4.8 percent, and roulette generated $27.4 million for the clubs, up 0.9 percent.

The statewide slot win of $730.4 million was up 1.5 percent over the same month in 2005. The biggest producers were multi-denomination slots, which accounted for $304.6 million of the total, up 30.4 percent.

Quarter slots were down 21.1 percent with a win total of $117.4 million; dollar slots were down 17.4 percent with a win of $93 million; and penny slots were up 44.4 percent with a win of $106.5 million.