Casino Winnings

By: Staff
By: Staff

Casinos also won $954.2 million from gamblers in June - an 11.7 percent gain over the same month in 2004.

"June is historically a pretty quiet month," said Frank Streshley, a research analyst with the state Gaming Control Board. "The opening of Wynn in April is still growing the market, which is a good sign. It's not cannibalizing the market. The demand for Las Vegas has gone through the roof."

Streshley said this is the state's 11th consecutive monthly record for winnings. The win was the amount left in casino coffers after gamblers wagered $12.5 billion during June, including $10.6 billion on slots and $1.9 billion on table games.

For the 2005 fiscal year that ended June 30, the slot win spiked 9.7 percent and table game win increased 7. 1 percent.

"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.

The state collected $55.2 million in percentage fees based on the June win, up 1.3 percent compared with the fees collected for the same month in 2004.

Las Vegas Strip resorts accounted for $489.6 million of the June win, up 16.4 percent. Downtown Las Vegas was down 2.9 percent, while North Las Vegas was up 16.9 percent and the Boulder Strip was up 7.1 percent.

Deutsche Bank gambling analyst Marc Falcone wrote in a Thursday investor's note that Strip casinos showed no signs of slowing down.

"We are encouraged by the strong table volume trends witnessed on the LV Strip as we continue through the seasonally soft summer months," Falcone said. "We anticipate operators with LV Strip exposure ... to capitalize on what we believe will be continued solid trends."

In June, northern Nevada, Reno casinos were up 0.6 percent. Sparks casinos were up 4 percent and Stateline casinos on Tahoe's south shore were up 1.3 percent.

Carson City area casinos were up 11.7 percent - the region's 26th consecutive monthly increase.

In June, games that produced the most win included blackjack at $103.2 million, up 14.9 percent; craps at $46.6 million, up 48.3 percent; and baccarat at $33.9 million, down 18.6 percent.

Slot revenues included $226.1 million from multidenomination slots, up 51.8 percent. Dollar slots won $92.4 million, down 10.4 percent; quarter slots won $132.1 million, down 13.7 percent; and nickel slots won $70.9 million, down 33.4 percent.


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