Football betting means gain for Nevada gaming
November 13, 2012
Stateline casinos posted a 5.01 percent gaming win for the month of September, buoyed by football betting, according to figures released last year.
The main source of gaming revenue for Douglas County raked in $18.01 million for the month, nearly $1 million more than the same month last year. The total did little to improve Stateline’s total for the year so far, which is down 6.23 percent.
Carson Valley casinos, which include all Douglas County casinos outside of the Tahoe basin and those in Carson City, posted a .45 percent increase over September 2011.
Statewide, Nevada casinos won $892.7 million from gamblers in September for a modest 3.3 percent increase over September 2011, the state Gaming Control Board reported.
Clark County reported a 3.7 percent gain, with the Las Vegas Strip posting a slight 1.2 percent increase with $496.8 million in revenues, the monthly report released today shows.
Most Southern Nevada markets reported increases in September, including a 6 percent gain in downtown Las Vegas and a 24.2 percent increase on the Boulder Strip.
Modest gains were reported across much of the rest of the state as well, with Washoe County posting a 0.6 percent gain, and Stateline reporting a 5 percent increase in September over September 2011.
The slight increase in September came after a modest 3.1 percent decline in August.
Sports betting, particularly with the start of the NFL football season, was the major contributing factor for Nevada’s modest win, said Michael Lawton, senior research analyst for the state gaming agency.
Sports pools statewide won $53.4 million in September, an increase of 165.4 percent, or $33.3 million, over September 2011. The amount wagered was up 21.7 percent, or $75.1 million. And the amount “held” by the casinos was a strong 12.69 percent compared to 5.82 percent last year.
The state had an overall gaming revenue increase of $28.7 million in September.