Strip casinos post 9 percent gain in gaming win

A view of the Las Vegas Strip from atop the Stratosphere. Analysts at accounting firm PwC have boosted their growth projection for Nevada’s casino industry.

Buoyed by strong play in baccarat, casinos along the Las Vegas Strip won $495.2 million in November, a 9 percent gain from a year ago.

It was the second straight month the Strip has enjoyed good numbers, as the October win registered a 13.2 percent increase.

The Nevada Gaming Control Board reported today that statewide, casinos won $880.1 million, a 7 percent gain. The increase was especially healthy compared to figures from a year earlier, when gaming win fell 5.8 statewide and 4.1 percent on the Strip during November 2010.

Michael Lawton, senior research analyst for the board, said special events helped the Strip register the gain. Among events that attracted traffic to casinos were an Eagles concert, a Manny Pacquiao title fight and the World Series of Poker.

The win for the first 11 months last year was up 5.2 percent at Strip casinos.

Meanwhile, all other gaming areas in Clark County posted increased win except North Las Vegas and Laughlin.

Properties on the Boulder Strip registered a 12.4 percent increased win, the highest percentage gain in any area in the state. Winnings in downtown Las Vegas casinos rose 7.2 percent, while Mesquite was up 4.1 percent and the balance of Clark County rose 8.7 percent.

Gaming was off 4.7 percent in North Las Vegas and 1.8 percent in Laughlin.

The win in baccarat on the Strip reached $89 million, a jump of 29.3 percent. Lawton said there was more wagering in baccarat, and the casinos’ “hold” percent rose to 13.6 compared to 12.1 percent of a year ago.

One surprise was in roulette, where casinos won $25.4 million, an increase of 54.8 percent on the Strip. Winnings from blackjack fell 4 percent, craps increased 5.1 percent, sports betting was up 19 percent and slots increased 2.9 percent.

Lawton said the sports book win increase was due to a strong football betting month, with a 192 percent increase. But that large increase was due to a decline in November 2010.

The board reported gaming win rose 1.9 percent in Washoe County and declined 6.9 percent at South Lake Tahoe. Win was up 1.1 percent in Carson City and up 8.4 percent in Elko County.

The lack of snow prevented the skiing season from getting off at South Lake Tahoe and cut the tourist trade.

Gaming

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