In recent figures released by the Nevada Gaming Control Board, it was revealed that gambling “win,” or revenue, fell by 8.34% in May of 2009 in comparison to May of 2008. Total win was nearly $900 million statewide.
Nevada casinos raked in $889 million two months ago, a fall of over 8% compared to the $970 million in revenue generated in May of 2008. The hardest hit area of the state was South Lake Tahoe, where revenues plummeted by 25.50% in May year over year, landing at $18.1 million. On the Las Vegas Strip, which includes poker-friendly gaming establishments like the Bellagio and Venetian, revenue was off by just 6.36% in May to $480 million. Over the fiscal year to date, which began in July of last year, revenue is down by 15.31% in comparison to the previous fiscal year.
In Downtown Las Vegas, which includes the home of Season V of GSN’s “High Stakes Poker,” the Golden Nugget, casino win was off by 10.69% in May to $43.2 million. Over the fiscal year to date, revenue in Downtown Las Vegas is down by 12.28% to just over $503 million. In North Las Vegas, revenues were actually up in May year over year despite the fledgling economy. Area casinos reported a win of $20.8 million, up 2.89% from the $20.2 million recorded during May of 2008. For the fiscal year to date, revenue in North Las Vegas is off by a scant 2.15%.
In Laughlin, casino revenue in May was down by 15.05% to $41.2 million. It was a far cry from the trend on the Boulder Strip, where revenues were up a strong 10.32% to $64.4 million. Over the fiscal year to date, the Boulder Strip has seen its win fall by 9.32% to $745 million. In Mesquite, the news was not as rosy. Casino revenue dove by 22.08% in May of 2009 in comparison to May of 2008. When the final results were tabulated, Mesquite casinos pulled in $10.5 million, down from the $13.5 million recorded last year. During the fiscal year to date, Mesquite casino revenue is off by 19.04% to $121 million.
In Washoe County, revenue was off by 8.63% in May year over year. Its gambling metropolis is Reno, where revenues of $56.2 million two months ago represented an 8.84% slide. Over the fiscal year to date, “The Biggest Little City in the World” has seen its revenues fall by 13.37% to $577 million. In Sparks, the news was equally bleak. Revenues of $12.2 million in May marked a 12.05% decline from the $13.9 million recorded last year. North Lake Tahoe saw its win sink by 18.76% in May to $2.1 million. Over the fiscal year to date, North Lake Tahoe casinos have experienced a 16.86% drop in revenue.
In the Carson Valley Area, which includes Carson City, Gardnerville, Minden, and other areas of Douglas County outside of South Lake Tahoe, revenues slid by 16.25% in May to $9.4 million. In Wendover, which makes its home in Elko County, revenues were off by 10.03% to $15.3 million. Over the fiscal year to date, Elko County casinos have seen revenues drop by 7.33%.
In June, the State of Nevada collected $50.8 million in fees based on May’s gaming win, a 19.89% slide in comparison to the $63.5 million recorded last June. Overall, gaming win has now fallen for 17 straight months, with casinos last recording an increase year over year in December of 2007:
May, 2009: (8.34%)
April, 2009: (14.07%)
March, 2009: (11.61%)
February, 2009: (18.12%)
January, 2009: (14.62%)
December, 2008: (18.94%)
November, 2008: (14.80%)
October, 2008: (22.33%)
September, 2008: (5.44%)
August, 2008: (8.10%)
July, 2008: (12.97%)
June, 2008: (1.11%)
May, 2008: (15.17%)
April, 2008: (5.05%)
March, 2008: (1.52%)
February, 2008: (3.93%)
January, 2008: (4.75%)
Read the official Nevada Gaming Control Board report.
