Nevada casinos won $732.4 million in November, up 1.5 percent from the same month a year earlier, due mostly to a strong performance by the high-end baccarat places on the Las Vegas Strip.
This was the fourth straight month of increased gaming win statewide, but it is being compared to business after the 9/11 terrorist attacks when the tourist trade fell off in Nevada. Compared with November 2000, gaming win was down 6 percent.
The state Gaming Control Board reported today that the Las Vegas Strip was the only area in Clark County that produced an increased gaming win, up 6 percent. Frank Streshley, senior research analyst for the board, said the Strip was the hardest hit in 2001 after the attack.
Streshley said Nevada casinos won $37.1 million in baccarat in November, up 240 percent. He said the clubs reported a “hold” of 30 percent, compared to a year earlier of 9 percent — meaning the casinos beat the players by a higher percentage. Without the baccarat increase, the statewide win, which is computed before taxes and business expenses, would have been down 2.1 percent.
The board said the state collected $270.2 million in gaming taxes in the first six months of the current fiscal year (July 1-Dec. 31), a 2.2 percent increase from the same period in 2001.
Gov. Kenny Guinn said that means the state is $21.2 million behind the estimates of the Economic Forum, which the state budget is built on. “The news is bleak when you consider we fell another $3.6 million behind where the Economic Forum projects us to be this month (November).”
He said to meet the predictions of the forum; the casino win will have to grow by nearly 18 percent per month for …