Big expensive promotions might carry prestige and bring in a few more high rollers but nothing packs a casino and floods a cage with cash like a cheap room and an even cheaper breakfast Wendover casinos learned according to the August report on Total Win from the Nevada Gaming Control Board.
Released late last week Wendover casinos reported a whopping 10.09 percent increase in total gaming win at over $14.2 million. It was the highest increase for the last two year and was only the second recorded since 2013 was rung in eight months before.
“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.
For most of the spring and summer Wendover casinos had been performing at below predictions and were posting declines from the same months a year before.
“Wendover had us scratching our heads,” said Chief Gaming Analyst Michael Lawton. “We called around and found out that several of the casinos have cut back their big comps and pulled back from the flight program. As this year progresses we should see some favorable comparisons.”
In addition to cutting back their big comps billboards advertising the return of the $2.99 breakfast and hotel rooms below $50 began to spring up along Interstate 80.
The end result of appealing to tourist wallet August results indicate were impressive.
Total slot win was up 9.3 percent to $11.2 million. Slot play was up 4.6 percent to $199 million . Slot hold increase to 5.64 percent from 5.4 percent recorded in August 2012.
Win from table games and sports betting was up by 13.2 percent to $3.0 million. Play was up 1.5 percent to $13.4 million. Hold increased from 20.16 to 22.49 percent.
Casinos in the rest of Elko County saw total gaming win up 2.77 percent to $8 million. Slot win was up 1.3 percent to $7 million. Slot play was up 6.4 percent to $109.5 million. Slot hold was down from 6.75 percent to 6.43 percent.
Win from table games and sports betting was up by 15.1 percent to $900,000 million. Play was up 13 percent to $3.8 million. Hold increased from 22.9 to 23.32 percent.
Statewide, Nevada’s gaming win jumped up nearly 11.2 percent in August as casinos raked in $955.3 million.
Led by $589 million win from Las Vegas Strip casinos, just a fraction shy of 20 percent up from a year ago. Again the most profitable game was Baccarat, which recorded the fourth-largest win in history at $193.6 million, up $69.2 million over that category a year ago.
Even without Baccarat, however, total win was up 3.7 percent. Lawton said that means the other games including “21” and craps had a good month.
The totals were helped by the fact the month this year had one more Saturday than August 2012.
Slot win totaled $527.1 million, down 2.7 percent.
click link for full report: mrrAug13
Washoe County reported the largest win total since August 2009, at $73.8 million. That is 8.4 percent up from a year ago. Lawton credited a strong turnout for Hot August Nights this year along with the extra Saturday. Washoe has now been up five of the past six months.
North Lake Tahoe casinos also posted an increase, their seventh in the past eight months. In August, the north shore casinos were up 9.4 percent, to $3.57 million.
South Shore casinos at Stateline were down 2.7 percent on a decrease in slot machine win.