Nevada casinos win record $1 billion in March - Thursday 12th of May 2005

Nevada casinos won $1.03 billion from gamblers during March -- a record for any month -- for a 10.9 percent gain over the same month in 2004, a state report showed Wednesday.''The state Gaming Control Board said strong convention business, record leisure travel in southern Nevada and big gains at casinos favored by locals all figured in the milestone March win.''

"What makes these numbers even more impressive is that Easter fell in March and Easter is usually slow" for casinos, the GCB's Frank Streshley said, adding, "For this to happen in March was a little bit unexpected."''"This month's impressive numbers were accomplished prior to the opening of Wynn Las Vegas, which hopefully will spur even greater growth in the coming months," Gov. Kenny Guinn stated. The $2.7 billion megaresort on the Las Vegas Strip opened in late April.''The win was the amount left in casino coffers after gamblers wagered a record $13.4 billion during March, including $13.3 billion on slots and the rest on table games.''"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 $88.6 million in percentage fees based on the March win, up 8.5 percent compared with the fees collected for the same month in 2004. The fees so far this fiscal year are only 0.2 percent below recent predictions by the state's Economic Forum.''Las Vegas Strip resorts accounted for a record $514.4 million of the total win, up 10.5 percent. Downtown Las Vegas was up 11.4 percent, while North Las Vegas was up 12.6 percent and the Boulder Strip was up 12.4 percent.''

 

In northern Nevada, Reno clubs were down 1.6 percent -- the only decline for any major market in the state. Sparks casinos were up 6 percent, due largely to local traffic, and Stateline casinos on Tahoe's south shore were up 28.6 percent.''Carson City-Carson Valley casinos were up 9.3 percent -- for their 23rd consecutive month of increases.''

 

The $1.03 billion statewide win during March included $719.6 million from slot machines and $301 million from table games. Poker accounted for the balance.''Games that produced the most revenue included blackjack at $111 million, up 4.7 percent; craps at $45.9 million, up 8 percent; and baccarat at $40 million, up 85 percent. Poker games won $11.2 million, up 44.4 percent.''Slot revenues included $233.9 million from multidenomination 'slots, up about 69 percent. Dollar slots won $112.5 million, down 5.6 percent; 'quarter slots won $148.8 million, down 15.8 percent; and nickel slots won $89.7 'million, down 26.6 percent.'

 

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