Wendover casinos posted some of their best numbers in three years this July, according to this weeks report from the Nevada Gaming Control Board. However the gains made were less due to an increase in tourism but rather stingier slot machines.
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Wendover clubs reported $14.85 million in gaming win a 6.0 percent increase from July 2010. It was one of biggest gains since the Great Recession devastated the local gaming industry three years ago.
“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.
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While win indicates a casino market’s profitability another statistic “play” is an indicator of how casino workers are fairing. With some casino workers dependent on tips for up to half of their total income, play, the amount of money wagered by gamblers is a good indicator of how much casino workers received in tips and how many gamblers are actually in the casino.
Local slot machines were responsible for the lion’s share of July’s win increase. According to the report Wendover slot win was up 9.3 percent to $12 million. Slot play however fell 1.5 percent to $201.5 million. The difference was in slot hold the percentage programed into the one armed bandits. In July 2010 hold was at 5.37 percent. In July 2011 the hold was tweaked upwards to almost 6.0 percent.
On the tables win actually fell 6.2 percent to $2.6 million. But in a reverse scenario from the slot results, play was actually up albeit slightly by 0.2 percent to $13.6 million.
In the rest of Elko county win increased 5.42 percent to $8.1 million. Slot win rose 6.0 percent to $7.4 million. Slot play was also up 7.3 percent to $108 million. On the tables win showed no increase or decrease at $684,000, while play was up 2.8 percent.
For the entire state, Nevada’s gaming win rose 3.66 percent in July, the third straight month of increases over the same period a year ago.
Despite the fact that this July was going against a weak month a year ago, there were good signs in the numbers, including that the total win would have been higher even without counting the 20 percent increase in baccarat play, said Gaming Control Board analyst Mike Lawton.
The high points statewide were mostly in Game and Table win, as blackjack tables posted a 96 percent increase and craps tables a 20 percent increase from July to July.
Baccarat tables — primarily on the Las Vegas Strip — raked in $89.7 million to boost total Game and Table win to $315.7 million in July. Game and Table win is up more than 9 percent so far this calendar year.
Statewide, total win for the month was just over $860 million, $136.9 million more than the previous July.
Lawton noted that this July had one more Sunday than last July.
He said that because the month ended on a weekend, an estimated $49 million in slot winnings won’t be reported until the August numbers come out — so the increase is actually even better than 3.66 percent.
Clark County was up nearly 3.2 percent in July — but not because of the Strip, which recorded just 1.5 percent more win than a year ago. Lawton said the difference was all in the locals markets in southern Nevada reporting double-digit increases in downtown, North Las Vegas and the Boulder Strip.
He said those local markets were responsible for more than 40 percent of the statewide gain. Only Laughlin was down compared to the previous year.
Elsewhere around the state, Reno casinos won $51 million, or 0.9 percent more than last July. South Lake Tahoe casinos won $30 million in July to bring in 25 percent more than a year ago. Downtown Las Vegas gained 10 percent.
Smaller casino markets that cater to locals have been slow to recover, given the state’s high unemployment and foreclosures. But local markets in southern Nevada saw a combined gain of 8.5 percent in July and are up nearly 3 percent for the calendar year. The Carson Valley area, which includes valley portions of Douglas County as well as the capital, didn’t share in the bounty.
Total win was $8.69 million, a 2.26 percent decline from a year ago. Lawton said the total volume of bets was down more than 2 percent in the capital.
North Lake Tahoe casinos took an even bigger hit, seeing just $3.4 million in winnings — a 10.5 percent, $399,000 drop.