VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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IN BUSINESS ANALYST: GAME AND TABLE WIN ON THE STRIP WAS THE HIGHEST EVER GAMING, FROM PAGE 7 of $925.4 million for the month. Michael Lawton, senior research analyst for the board, said casinos on the Strip reported $194 million in baccarat winnings, the second-highest monthly total ever and a 199.3 percent jump from the year before. Lawton attributed the heavy baccarat play to the Chinese New Year celebration in January, which drew Asian gamblers to Las Vegas. Sports betting, mostly on the college football bowl games, jumped 96.5 percent. Casinos on the Strip won $8.1 million on football bets and held 7.1 percent. (In January 2011, the hold was only 2.5 percent.) The hold on sports parlay cards fell by 13 percent, as the bettors' luck improved from the year before. Lawton said the game and table win on the Strip was the highest ever. But the gross Strip win in blackjack declined 11.9 percent; craps was off 4.1 percent and slot win inched down 0.4 percent. Roulette on the Strip reported a 27.4 percent increase. He said the penny slots and the multi denomination machines showed increases but there was a drop in winnings in other slots such as the 5 cent, 25 cent and the $1 machines. The board reported gross win by downtown Las Vegas casinos rose 13.7 percent; North Las Vegas was up 15.6 percent; Laughlin gained 6.2 percent; the Boulder Strip increased 8.7 percent; Mesquite rose 5.4 percent and the balance of Clark County was up 4.8 percent. But it was a different story in Northern Nevada. Only South Lake Tahoe casinos reported a gain, of 2 percent for the month. Casinos in Washoe County dropped 6.1 percent in their gross win; Carson Valley Area fell 3.7 percent and Elko County clubs dropped 2.1 percent in their gross win. The state collected $57.3 million in gaming tax, down 16.3 percent for January 2011. But Lawton said that was due to Chinese New Years falling late in January and he expects to pick up $19 million more in taxes in February due to the credit play on baccarat in January. | 19 MARCH 2012 | OPEN THE DOOR TO HOME FINANCING. We, like you, are Nevadans and we want to see Nevada neighborhoods thrive. With a wide variety of loan terms, no closing costs, and no payments for 90 days, you can get a Home Residence Loan that's perfect for you. And we can close your loan right here, locally, in as little as ten days. Bring your banking home. VEHICLE TRAFFIC FROM CALIFORNIA STRONG VISITORS, FROM PAGE 8 Board reported gaming revenue in Clark County was up 21.6 percent to $925.5 million for January, with Strip revenue up 29.2 percent. Strong New Year's Eve and Chinese New Year play pushed play higher and contributed to the state topping the $1 billion revenue mark for the first time since September 2008. Vehicle traffic from California, meanwhile, was strong in January with Nevada Department of Transportation counts up 8.6 percent to 36,578 vehicles per day on average. But traffic on all major highways into the city was down 0.4 percent to an average 87,692. The LVCVA also monitors visitor volume in Mesquite and Laughlin. Mesquite visitation for January was up 0.7 percent to 79,962, with occupancy down 5.7 percentage points to 68.9 percent and average daily room rates down 24.6 percent to $35.47. NO POINTS. NO CLOSING COSTS. NO PAYMENTS FOR 90 DAYS.* *Subject to credit approval. Interest will accrue during the 90-day no payment period. Offer applies only to Home Residence Loan products. Certain restrictions apply. Call or see branch for details. 52 years in Nevada. 53 branches and over 100 ATMs statewide. nsbank.com | 1.866.618.3453 9