Nevada Strip Gambling Drops 14 Percent in July
CARSON CITY, Nevada — Nevada gambling revenue dropped 8 percent in July, led by a 14.4 percent drop on the Las Vegas Strip that analysts Friday chalked up to a tough comparison to the same month the year before.
Casinos statewide won $925.7 million from gamblers in July, down from July 2012 when casinos surpassed the billion-dollar mark and posted a 17 percent increase. The "win" is what was left in casino coffers after gamblers wagered $11.5 billion. A breakdown shows $8.8 billion was plunked into slot and video machines, while $2.7 billion was bet on card and table games.
With that perspective, July's results were pretty good.
"It was actually the second-highest win amount for the calendar year," said Mike Lawton, senior analyst with the Nevada Gaming Control Board. "But it was a tough comparison month."
Lawton said there have been only three months with revenue over $1 billion since the recession.
Las Vegas Strip revenue totaled $511.4 million, down 14.4 percent year-over-year, while downtown casinos brought in $39.4 million, down 4.4 percent from a year earlier.
Reno casinos took in $48.9 million in July for a 5.8 percent gain. Washoe County as a whole has seen increased gambling revenues in four of the last five months, largely attributable to national bowling tournaments.
South Lake Tahoe casinos won $32.4 million, up 9.2 percent. Tahoe clubs benefited from the American Century Celebrity Golf Championship that draws celebrities, sports stars and autograph seekers.
The state collected $61.2 million in taxes off the July winnings, a decline of 9.4 percent from what Nevada took in a year ago, the report said.
Casinos won $340.1 million statewide on game and table games, a drop of 18 percent or $74.5 million, Lawton said. Included in that is the $118.8 million won on baccarat, a volatile, high-roller game favored by Asian players. The baccarat win was down 37.4 percent or $71.1 million when compared with July 2012.
A year ago, baccarat winnings rose 112 percent.
If baccarat is factored out, the total statewide win would have been off just 1.1 percent, or $9 million, Lawton said.
The $585.6 million won by casinos in July from slot play was down 1 percent or $5.7 million.
