Billion A Month In Nevada Land Gambling

Published: Thursday, May 11, 2006 Online-Casinos.com

BILLION A MONTH IN NEVADA LAND GAMBLING

Nevada land casinos regularly exceed monthly billion dollar benchmark


It's not online gambling, but it still makes for interesting reading - Nevada land casinos collectively often exceed the billion a month mark according to figures from the state Gaming Control Board

For the third straight month in 2006 and the seventh time in the past 12 months, Nevada casinos topped the $1 billion mark in monthly gaming win, says the Board. The $1.06 billion collected during March was the second- highest total ever, topped only by the $1.14 billion won in January.

The figure was a 3 percent increase from the $1.03 billion casinos won from customers in March 2005, the first time casinos ever won more than $1 billion from gamblers.

Frank Streshley, senior research analyst for the Gaming Control Board, said the March 2005 total was a 10 percent increase from the year before, making the 2006 gaming win even more impressive based on the tough comparison.

However, the table game hold percentages at Strip casinos - the money won from customers versus the actual amount gambled - was less than a year ago. "The casinos played unlucky compared to last year and the customers played lucky," Streshley said.

Brian Gordon, a partner in Applied Analysis, a Las Vegas financial consulting firm, said the growth in gaming revenue has slowed, which was to be expected. While 5 to 6 percent year-over-year increases are "respectable," Gordon said the Strip has experienced double digit increases, including 19 percent in February.