Lack of snow hurting Stateline casinos
March 30, 2014
What’s not on Lake Tahoe’s slopes prompted a continuation of a five-month downhill slide in gaming take at Stateline.
A lack of snow has continued to hurt the Stateline casinos, which posted a 9.51 percent decrease in gaming take in February compared to the same month last year.
The clubs, which are the major source of gaming revenue for Douglas County, took in $14.7 million, according to figures released by the Nevada Department of Taxation on Friday.
That’s down from $16.29 million in February 2013. Since July 1, the gaming take from Stateline is down 4 percent compared to last year.
The decrease isn’t as severe as January’s, which saw a 12.4 percent drop, or December, which saw a nearly 25 percent drop from the previous year. December 2012 saw heavy snow, and January 2013 cold enough temperatures to keep that snow on the slopes, helping improve visitor numbers. The last month Stateline casinos saw an increase in gaming take year over year was September 2013.
The gaming win in East Fork Township and Carson City casinos was down slightly over the same month last year, reflecting almost flat revenue growth year over year.
Casinos in the two Western Nevada jurisdictions, which are counted together by the state, took in $7.45 million down 1.84 percent from last year. The casinos are down a third of a point since July 1 compared to last year.
Nevada’s nonrestricted gaming license holders reported a 13.71 percent decrease for February, led by substantial decreases in Clark County, which generates most of the state’s gaming revenue. Clark, which is home to Las Vegas, brought in $810 million of the state’s total $926 million in February. That’s down from $1.07 billion statewide in February 2013.