NEVADA CASINOS: Gaming revenue up in March
By JEFF SIMPSON
GAMING WIRE
Helen McLaughlin, of Jacksonville, Fla., plays slots March 22 at the Tropicana. Strong slot machine performance helped boost Nevada's gaming revenue 3.4 percent in March.
Nevada's casinos reported a 3.4 percent increase in March revenue, winning $834.7 million, up from $807.2 million in March 2002, the Nevada Gaming Control Board said Friday.
The comparison benefited from soft numbers that followed the Sept. 11, 2001, terrorist attacks. March winnings were 2.6 percent below the $856.4 million casinos won in March 2001.
Strip casinos won $395.6 million, up from $395.3 million, a 0.1 percent increase.
Control board statistical analyst Frank Streshley said the March results were affected by events leading up to the war in Iraq.
"Operators reported a little bit of an increase in leisure travel and convention cancellations in March with cancellations picking up in April," Streshley said.
Strong slot performance and Las Vegas locals casino results offset sluggish table game and Strip casino numbers, he said.
The state's 184,504 slot machines recorded an all-time record win, netting $573 million, besting the prior record of $564 million reported in October.
The win marked the first month that the state's slots averaged winning more than $100 per day, as Nevada machines typically average about $90 per day.
The buildup to the Iraq war could be seen in table game performance, Streshley said.
"International travelers are some of the best table game players and they were anxious about world events and reluctant to travel," he said.
Reduced betting action translated into a 3.2 percent drop in table game win, to $256.5 million from $264.9 million.
The table decline came despite a 46.2 increase in baccarat win.
Relatively flat Strip results and Reno's ninth down month out of the last 12 were more than overcome by strong results in the Las Vegas locals market.
North Las Vegas casinos, aided by the January opening of the Cannery, reported a 34 percent increase in casino win, $22.1 million, up from $16.5 million.
The performance was North Las Vegas' best in more than a year, topping a 24 percent increase reported in March 2002.
Downtown Las Vegas casinos reported one of their best months in the past year, winning $63.6 million, up 6.3 percent from $59.9 million.
"Despite this month's increase in gaming win, percentage fee collections continue to fall well below budgeted projections," Gov. Kenny Guinn said in a statement. "This month alone added $7.8 million to the deficit bringing the fiscal year-to-date total to over $24.7 million. This amount could exceed $30 million by (fiscal year June 30) year-end with gaming revenues projected flat for the remaining months."
In other markets:
• Reno casinos won 62.8 million, down 2.2 percent.
• Laughlin casinos won $52.9 million, down 7.7 percent from $57.3 million, the Colorado River market's worst performance in more than one year.
• Boulder Strip casinos won $64.4 million, up 22.9 percent from $52.4 million.
By JEFF SIMPSON
GAMING WIRE
Helen McLaughlin, of Jacksonville, Fla., plays slots March 22 at the Tropicana. Strong slot machine performance helped boost Nevada's gaming revenue 3.4 percent in March.
Nevada's casinos reported a 3.4 percent increase in March revenue, winning $834.7 million, up from $807.2 million in March 2002, the Nevada Gaming Control Board said Friday.
The comparison benefited from soft numbers that followed the Sept. 11, 2001, terrorist attacks. March winnings were 2.6 percent below the $856.4 million casinos won in March 2001.
Strip casinos won $395.6 million, up from $395.3 million, a 0.1 percent increase.
Control board statistical analyst Frank Streshley said the March results were affected by events leading up to the war in Iraq.
"Operators reported a little bit of an increase in leisure travel and convention cancellations in March with cancellations picking up in April," Streshley said.
Strong slot performance and Las Vegas locals casino results offset sluggish table game and Strip casino numbers, he said.
The state's 184,504 slot machines recorded an all-time record win, netting $573 million, besting the prior record of $564 million reported in October.
The win marked the first month that the state's slots averaged winning more than $100 per day, as Nevada machines typically average about $90 per day.
The buildup to the Iraq war could be seen in table game performance, Streshley said.
"International travelers are some of the best table game players and they were anxious about world events and reluctant to travel," he said.
Reduced betting action translated into a 3.2 percent drop in table game win, to $256.5 million from $264.9 million.
The table decline came despite a 46.2 increase in baccarat win.
Relatively flat Strip results and Reno's ninth down month out of the last 12 were more than overcome by strong results in the Las Vegas locals market.
North Las Vegas casinos, aided by the January opening of the Cannery, reported a 34 percent increase in casino win, $22.1 million, up from $16.5 million.
The performance was North Las Vegas' best in more than a year, topping a 24 percent increase reported in March 2002.
Downtown Las Vegas casinos reported one of their best months in the past year, winning $63.6 million, up 6.3 percent from $59.9 million.
"Despite this month's increase in gaming win, percentage fee collections continue to fall well below budgeted projections," Gov. Kenny Guinn said in a statement. "This month alone added $7.8 million to the deficit bringing the fiscal year-to-date total to over $24.7 million. This amount could exceed $30 million by (fiscal year June 30) year-end with gaming revenues projected flat for the remaining months."
In other markets:
• Reno casinos won 62.8 million, down 2.2 percent.
• Laughlin casinos won $52.9 million, down 7.7 percent from $57.3 million, the Colorado River market's worst performance in more than one year.
• Boulder Strip casinos won $64.4 million, up 22.9 percent from $52.4 million.
