Tahoe casinos back to downward slide
November 9, 2011
After two positive months, the casinos at Stateline posted a 14.37 percent loss for September.
The main source of Douglas County’s gaming revenue, the casinos won $17.1 million during the month, according to figures released today by the Nevada Gaming Control Board. That’s down from the $20.03 million from the same month in 2010.
The casinos at Stateline suffered a 79 percent reduction in win on the 21 tables, holding just 2.9 percent of the amount wagered compared with 16.9 percent last year. At the same time, slot win was off 11 percent.
The area is still up by 10 percent for the fiscal year.
Casinos in Douglas County and Carson City outside of the Tahoe basin also posted a 2.54 percent loss in gaming take. Carson Valley area casinos took in $8.7 million, down from the $8.99 million collected in September 2010.
A 17 percent drop in game and table win was caused by either good or lucky players since, according to Gaming Control Board analyst Mike Lawton, the total amount wagered was up from September 2010.
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That revenue is shared between Carson City and Douglas County.
Game and table play brought area casinos more than $602,000 for the month compared with $8.1 million from slots.
Statewide, the story was much the same with overall win down 5.87 percent or $53.8 million to $863.9 million. Statewide game and table win fell 11 percent to $310.5 million. For the state, the story was a 36.2 percent drop in Baccarat win to $81.9 million.
That decrease totals more than $46 million, accounting for nearly all of the total statewide decline in win.
Slot win statewide was $553.4 million, a 2.7 percent decrease.