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Posts Tagged ‘nevada’

Busted — Nevada Posts Big Drop in October Gambling Revenue

Thursday, December 11th, 2008

You knew the October numbers weren’t going to be pretty but I’m not sure anyone guessed that Nevada gaming revenue would be down – are you ready? – 22.3% as compared to a year ago.  That is the single largest monthly drop in reported “win” in state history and the 10th straight month that gaming revenues have declined.

Here’s how the numbers released today by the Nevada Gaming Commission played out in the Silver State:

Nevada as a whole brought in $905 million for a 22.3% drop.

The Las Vegas Strip was hit hard with its $475 million take which represents a 25.8% drop compared to a record “win” in excess of $637 million in October of last year. (more…)

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Arizona Casino Revenue Falls in Third Quarter

Saturday, November 1st, 2008

Casino gaming revenue is down all over the country.  No surprise there considering the state of the economy.  In September alone, Biloxi casinos — hit with Hurricane Gustav and forced to close over a typically busy Labor Day Weekend — reported revenue down a whopping 26% from a year ago.  In Atlantic City, September brought the biggest monthy drop ever for the seaside gaming community – 15.1%.  And for August — which included most of the Labor Day weekend numbers — Nevada reported an 8.1% decrease with gaming capital, Las Vegas, down 7.4%.  I’m sure we’re going to see Nevada’s September numbers more in line with the double-digit declines reported above when they are released later this month.

And in Arizona, the state department of gaming, announced Friday that for the quarter ended September 30, tribal contributions from Indian gaming revenue — which are based on gaming earnings — to the state fell 9.5% from the same period a year ago.  

According to the Arizona Department of Gaming press release, “Arizona tribes’ combined contribution for the quarter…was approximately $25.0 million.  That’s down from $27.6 million in the same quarter a year before.”

So what do these revenue drops mean for casino visitors?  Look for more competition among gaming venues for your gambling dollars.  More and bigger promotions (think Harrah’s Ak-ChinWin Your Million“), enticing hotel rates all around the country, especially in room-laden Las Vegas, and lots of other events and ideas aimed at getting fannies into the gaming seats.

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