West Wendover casinos reported an unexpected decline in gaming win in April according to the latest report from the Nevada Gaming control board.
According the report released earlier this month Wendover club’s total gaming win was down 4.6 percent from last year to $13 million.
“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.
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.
April was expected to show an increase something like March’s 7.66 gain.
From December to February Wendover and the rest of Elko County was in the grips of an unprecedented cold snap that saw just a handful of days above freezing and saw win numbers fall to Great Recession levels.
But while the sunshine stayed through spring gambling dollars did not increase according to the report. Slot win in Wendover was down 4.4 percent to $10.2 million. Slot play was down 2.2 percent to $194 million . Slot hold decreased from 5.37 percent to 5.25 percent.
Win from table games and sports betting was down 5.2 percent to $2.8 million. Play was down 9.3 percent to $12.8 million. Hold increased from 21.25 to 22.21 percent.
For the fiscal year to date Wendover clubs are down 2.63 percent at $123.7 million.
Casinos in the rest of Elko County saw total gaming win fall 2.84 percent to $8.55 million. Slot win was down 1.4 percent to $7.8 million. Slot play was up 2.3 percent to $104.6 million. Slot hold fell from 7.69 percent to 7.41 percent. Table games were down 15.5 percent in the balance of Elko County posting total win of $740,000. Table play was down 5.0 percent at $3.4 million . Hold decreased from 24.78 percent to 22.1 percent.
Throughout the state The Nevada Gaming Control Board reported that revenue was $854.2 million, down 0.16 percent compared to the same month of a year ago.
Revenue in April 2012 was up 6.2 percent from 2011, so “it was a tough comp,” said Michael Lawton, senior research analyst for the board.
Las Vegas Strip casinos reported revenue, before taxes and expenses, of $448.5 million, down 2.3 percent compared to the same month in 2012 when winnings were up 7.4 percent.
There was also one less Sunday in April compared to a year ago.
Lawton said for the first 10 months of the fiscal year, gaming revenue was up 2.4 percent statewide and 5 percent on the Las Vegas Strip, which does more than half the state’s gaming business.
“For the fiscal year, we’re sitting pretty good,” Lawton said.
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Downtown Las Vegas casinos reported a 6.9 percent decline in revenue, and North Las Vegas was off 11.4 percent. Mesquite fell 4.7 percent, but the other areas in Clark County all showed increases.
Laughlin had an 11.4 percent increase; the Boulder Strip was up 5.7 percent and the remainder of Clark County rose 2 percent.
For the second straight month, Washoe County casinos posted a strong win, with revenue up 10 percent. Lawton said this was due to the major men’s and women’s bowling tournaments being held there.
South Lake Tahoe posted a 14.8 percent gain in revenue; Carson Valley was down 2.6 percent, and Elko County fell 3.8 percent.