Wendover and Elko casinos were one of the few bright spots in an otherwise dismal November gaming report released last week.
While the Nevada gaming industry reported a drop of over 11 percent in gaming win, clubs in Elko County showed a 4.17 percent increase in win.
In Wendover the increase was even larger. According to the report Wendover casinos reported $13.5 million in win up 5.41 percent from November 2011.
“Win” is a gross figure, with no operating costs or other expenses deducted. And it’s casino revenue only _ separate from hotel, restaurant or bar revenues generated by the resorts.
While win indicates a casino market’s profitability another statistic “play” is an indicator of how casino workers are fairing. With some casino workers dependent on tips for up to half of their total income, play, the amount of money wagered by gamblers is a good indicator of how much casino workers received in tips and how many gamblers are actually in the casino.
Slot win in Wendover was up 7.1 percent to $10.3 million. Slot play was up at 8.9 percent to $186.9 million . Slot hold declined slightly from 5.62 percent to 5.53 percent.
Win from table games and sports betting was up 0.2 percent to $3.2 million. Play was up 6.1 percent to $16.4 million. Hold declined from 20.55 to 19.4 percent.
For the fiscal year to date Wendover clubs are down 0.58 percent at just under $70 million.
Casinos in the rest of Elko County saw total gaming win up 2.02 percent. Slot win was up 7.6 percent to $6.8 million. Slot play was up 10.5 percent to $103.8 million. Slot hold was down from 6.75 percent to 6.58 percent. Table games were down 33.0 percent in the balance of Elko County posting total win of $671,000. Table play was up 2.4 percent at $4.1 million . Hold plunged from 24.42 percent to 15.98 percent.
Elko county’s weak win numbers in sports betting was magnified in throughout the state.
Statewide, casinos won $782.6 million in November, down $97.5 million from a year ago. Casino taxes of $45.7 million collected by the state were down 20.2 percent, the Nevada Gaming Control Board reported.
Mike Lawton, senior control board analyst, said the winnings were the lowest monthly total since June 2010.
Still, total statewide win is up 1.5 percent for the fiscal year that began July 1.
Analysts cited several factors for the monthly revenue fall. Football bettors trounced the house at sports books and the Las Vegas Strip lacked a major boxing match of the kind that pumped up casino coffers in 2011.
Lawton said casino winnings in November 2011 were bolstered by the Manny Pacquiao bout against Juan Manuel Marquez. Such events are big draws for high rollers.
But Lawton noted that Pacquiao fought in Las Vegas last month, a factor that should help December’s casino win report.
Sports pools statewide lost $8.2 million, a decline of $25.4 million, or 147 percent, from winnings in November 2011, the report said, despite betting volume that was up $99.5 million. The bulk of the loss, $5.3 million, was attributed to football betting.
“In general, bettors bet the favorites and they bet the over,” Lawton said. “The majority of the favorites won during November.
“Bettors had one of those months where you just scratch your head.”
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Las Vegas Strip casinos in November pulled in $431.8 million, down 12.8 percent. Downtown casinos winnings were down 17 percent.
The $36.9 million won by Reno casinos was down 3 percent, while South Lake Tahoe’s $18 million was up almost 27 percent.
The “win” is what was left in casino coffers after bettors wagered about $11 billion on table games, sports betting and slot machines. A breakdown shows $2.4 billion was bet on cards and other games, while gamblers plunked $8.6 billion into slot and video gambling machines.
Baccarat, a high roller game favored by Asian players, also factored into the overall statewide decline.
The $71.7 million won by casinos was down $17.7 million, or nearly 20 percent, from November 2011, there report said. The $564 million wagered on baccarat was off $93 million, or 14.2 percent.