Casinos news

Casino Win Experiencing a Five Percent Decline in Nevada

On March 7th, 2008, a casino fire in Las Vegas, a weakening economy and bad weather kept down the total casino wins for Las Vegas casino facilities in January to just $1.06 billion, a five percent downtrend compared with the same period almost a year ago.

Gambling Control Board analyst Frank Streshley commented that the fire happened at the Monte Carlo casino in Las Vegas affected the total win, which has experienced a 4.8% slide, although that was lifted by the opening of the Palazzo mega resort on the Las Vegas earlier this month. The $1.06 billion win was the money left in the casino treasury after players bet $12.7 billion during the month of January, including the $10.2 billion in slot machine wagers and the balance on casino table games.

Most important casino markets in the Las Vegas area had smaller casino wins compared with the month of January 2007. The only exception was the market in Mesquite, which achieve a 25.9% increase. Clubs in Reno experienced an 8.6% downgrade while the resorts on the south shore of Lake Tahoe experienced a 14.4% downgrade.

Elko County casino profits slide down by 3.8%. The total win for the resorts pushed the state's tax profits from the clubs to a total of $566.1 million this year. That is 8.5% below the total amount predicted by the Economic Forum of the state. The win from the slot machines experienced a downgrade of 5.1% in January while the casino table games total win slide down to 3.9% compared with the same period last year.

The total win on the game of baccarat was at $81 million, slid down by 10.7% and the total win on mini-baccarat was at $16.4 million, which improved by 29.2%. Sports betting won a total of $18 million, which improved by 20.4%. Poker games won a total of $12.8 million, which slid down by 7.9%.


04/03/2008 00:54 PM
Davis Coulter