Tuesday, November 11, 2003
Copyright © Las Vegas Review-Journal
CORRECTION (11/12/03): A chart accompanying a story on September gaming revenue in Tuesday's Business section was incorrect. The chart should have listed Clark County casinos as reporting a 6.4 percent increase in revenue.
SEPTEMBER GAMING REPORT: Slim rise seen in revenue
Keener competition from tribes, California crimps state numbers
By JEFF SIMPSON
GAMING WIRE
Strong performances on the Strip and in the Las Vegas locals market powered Nevada's 350 casinos to a 3.9 percent increase in money won from gamblers in September, the Nevada Gaming Control Board reported Monday.
The Las Vegas muscle was partially offset by weakness in Reno, Lake Tahoe, Laughlin and downtown Las Vegas, markets struggling with increased competition from California and Arizona tribal casinos.
Statewide, gaming win climbed to $841.5 million from $810 million in September 2002. Strip casinos won $421.1 million, up 7.7 percent from $391 million.
Despite the increases, overall results still disappointed state number crunchers.
They expected increased business because of the Shane Mosley-Oscar De La Hoya fight on Sept. 13 and easy comparisons with soft performances in September 2002 and 2001, control board statistical analyst Frank Streshley said.
He said gamblers didn't bet as much on table games as might have been expected given the big bout; table game betting volume was up only 1.6 percent.
Strong slot play boosted Strip numbers, powering the market's big monthly gain, Streshley said.
The Strip's 42 casinos reported a 17 percent increase in slot win, $239.3 million, fueled by a 25.2 percent increase in dollar slot win.
Streshley said the Strip's performance and the continuing prowess of the Boulder Strip and North Las Vegas casino markets, with 16 percent and 29 percent respective increases, was partially canceled by weakness in Reno and Lake Tahoe.
"The gains in the southern part of the state are being offset in the north, as the soft California economy and the impact of Thunder Valley (the California tribal casino managed by Station Casinos) hurts business in the north," Streshley said.
Washoe County casinos, including those in Reno and Sparks, reported a 7.9 percent drop in win, to $86.1 million, the smallest September casino win in the county since 1993.
Streshley noted that Washoe results declined for the fourth straight month, corresponding with the June opening of Thunder Valley off Interstate 15 near Sacramento, next to Northern Nevada's main tourist artery.
Gov. Kenny Guinn noted the north-south differences in a Monday statement.
"The gaming win posted this month is positive, but not as strong as we projected," Guinn wrote. "September's increase of about 4 percent in gaming win statewide over last year does not keep up with the growth of our state, which continues to lead the nation. I am concerned with the continuing decline in gaming revenue in the northern part of the state that is only partially offset by continued growth in Southern Nevada."
The September results included a 7.3 percent increase in blackjack win, to $86.4 million; a 17.6 percent increase in live poker win, to $5.4 million; and a 220.9 percent increase in $100-denomination slot machine win, to $6.8 million.
Streshley said the Las Vegas locals market remained extremely strong, noting the North Las Vegas and Boulder Strip increases as well as a 0.3 percent increase in the nebulous "balance of (Clark) county" market that presumably includes the Suncoast, Rampart, and casinos in Primm and Jean.
