Tuesday December 31,2013 : GOOD NEWS FROM NEVADA
Nevada land casino revenues rose 12 percent in November
The Nevada land gambling industry looks set to end 2013 on a high note following the publication of positive figures for the month of November.
The Nevada Gaming Control Board reported Monday that revenues soared nearly 12 percent in November over the same month last year, with results buoyed by strong baccarat play and record sportsbook action.
The Las Vegas Strip enjoyed especially good results, with revenues up almost 23 percent to $529.4 million, from $431.8 million in November 2012.
Casinos statewide won $876 million from the punters, an increase of 11.9 percent from November 2012.
Sports bettors wagered nearly $356 million on NFL football last month, setting a record for volume for the third consecutive month, said Mike Lawton, senior analyst with the Nevada Gaming Control Board.
Sportsbooks handled $490.3 million in wagers, the highest amount ever to beat the last record of $447.6 million set in November 2012.
Casinos won $130.1 million on baccarat, an increase of 81.4 percent or $58.4 million to mark the fourth consecutive increase in baccarat win, Lawton said. A high-roller game favored by Asian players, betting action totaled $1.1 billion, an increase of $497.5 million or 88.2 percent.
However, Lawton pointed out that the latest numbers had to be viewed in the context that results in the same month last year were especially dismal, declining almost 11 percent.
In the wider Nevada picture, winnings at downtown Las Vegas clubs fell 1.3 percent to $38 million, and South Lake Tahoe winnings dropped 2 percent to $17.3 million…but Reno casino revenue climbed 16.7 percent to $43.3 million.
State-wide, gamblers bet $11.6 billion in November, with $2.9 billion going on sports, cards and dice games while $8.7 billion was poured into slot and video machines.
Nevada state tax coffers benefited handsomely in November, gathering in $50 million – up 9 percent from a year ago.
For the fiscal year that began July 1 statewide gambling revenue is up 3.3 percent, the report said.