NEVADA CASINOS SET ANOTHER RECORD!
EVERYBODY’S COMING TO LAS VEGAS! WHY NOT YOU?
Nevada casinos recorded the highest-ever one-month gaming win total during May. If baccarat players had not been so lucky, the revenue figure could have been even higher.
Nevada casinos won $1.143 billion from gamblers in May, eclipsing by $2 million the previous $1.141 billion record set in January 2006. May’s gaming win was a 1.5 percent increase over the total from May 2006. The results were released Thursday by the Gaming Control Board.
The record total came despite a run of good luck by baccarat players. Casinos won $71.2 million in baccarat, an 18.2 percent decrease from May 2006. The win from mini-baccarat was $13 million, a drop of 53.6 percent from the same month last year. Most of the state’s high-stakes wagers are placed on baccarat.
According to the Las Vegas Review Journal, Frank Streshley, senior research analyst for the Gaming Control Board remarked, “The point is that even though this is an all-time record, the high-end games dragged down the numbers,”
He said results from other table games made up for the loss from baccarat. Casinos won $134 million from blackjack players, up 5.1 percent from last year; $40.9 million from craps, a 19.8 percent increase; and $37.2 million from roulette a 15.1 percent climb.
Table games accounted for $367.5 million of the gaming win, while slot machines took in $762 million, which was an all-time record.
Gamblers wagered $2.9 billion on table games in May, an increase of 6.1 percent from a year ago, and $11.8 billion in slot machines, off just less than 1 percent.
The month was only a $2 million increase over the previous record. When you factor in that the gaming win in baccarat and mini-baccarat was off about $30 million combined, you realize how much stronger the month could have been.
Wachovia Capital markets gaming analyst Brian McGill thought the timing of the month could have affected the numbers and held back an even stronger record figure. May began and ended in the middle of the week, which meant there was no carry-over in slot machine revenues, which often happens when the month ends on a weekend.
“We had strong numbers in the locals market in April. I’m not sure what impacted the total,” Streshley said.
Wachovia’s McGill, however, took a different approach to the results. He thought the trends were stronger among locals Casinos than the numbers showed.
“On an absolute basis, gaming revenue in the Las Vegas locals market was down slightly in May,” McGill said. “Given that Red Rock opened and then May was a very strong month last year, up more than 13 percent, we believe overall, it was a very good month.” (For local Casinos)
EVERY ONE IS COMING TO “VEGAS” WHY NOT YOU?
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