Nevada casinos hit jackpot

November 2006 was a fruitful one for the majority of casinos in Nevada with gaming revenue totalling $1.14 billion, a massive 14.1 per cent rise over the same month for the previous year.

The rise in revenue, as reported by the Gaming Control Board, was only $100,000 shy of the record that was set last January according to Frank Streshley, a senior research analyst for the board.

The state government also collected $75.3 million in percentage fees in December, a rise of 19 percent.

The heartbeat of Nevada’s casino industry, the Las Vegas Strip, saw its win revenue soar by 22.4 per cent from the previous November to $642.4 million. Streshley said this was mainly down to high-rolling, especially on baccarat tables, and the major events that the strip held.

The Rolling Stones and Barbara Streisand concerts and the Floyd Mayweather and Carlos Baldomir fight were big contributors to the rise in fortunes.

In total, gamblers staked $14.5 billion in November. A large chunk of that amount, $11.4 billion, was bet on slot machines and the rest was gambled on table games.

The revenue received from sports pools betting showed the highest increase. Revenue was up by a staggering 500 per cent to $35.5 million. Baccarat games also showed a marked increase, with win reaching a record $117.2 million, a rise of 100 per cent.

However, it was not all good news for Nevada. Casinos in Reno, North Nevada, saw gaming revenue down 6.8 per cent from the previous year at $57.4 million.

The latest figures suggest that even though Las Vegas may have been over-taken by Macau as the biggest gambling location in the world, it is certainly not ready to fold.

Editor, - 2007-01-12 10:54:24

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