Thanks to a balmy January Wendover casinos posted one of their biggest percentage gains in gaming win in history.
According to this week’s report from the Nevada Gaming Control Board, Wendover clubs posted a whopping 19.42 percent increase in January with a total win of $13.1 million.
click for report: mrrjan14
While impressive on paper the increase is in comparison to January 2013 when Wendover and much of region was locked in a deep freeze.
According to the US Weather service the coldest day of 2013 was January 5, with a low temperature of -8°F. For reference, on that day the average low temperature is 19°F and the low temperature drops below 8°F only one day in ten. The coldest month of 2013 was January with an average daily low temperature of 6°F.
Relative to the average, the coldest day was January 7. The low temperature that day was -8°F, compared to the average of 19°F, a difference of 27°F. In relative terms the coldest month was January, with an average low temperature of 6°F, compared to an typical value of 20°F.
The longest cold spell was from January 1 to January 25, constituting 25 consecutive days with cooler than average low temperatures. The longest freezing spell was from January 11 to January 26, constituting 16 consecutive days with temperatures strictly below freezing.
This year January was much warmer with only four days with average temperatures below freezing and with highs climbing into the 50’s. January 2014 was not only much warmer than the same month the year before it was also much drier. Where the previous January saw five major snow storms that close roads January 2014 saw no storms and indeed only recorded measurable precipitation on the last two days of the month.
In other words instead of an ordeal it was actually pleasant for tourist to make the drive from Salt Lake to Wendover and the gaming win rebounded.
In slots, win was up 20.4 percent to $10.1 million. Slot play was up 15.3 percent to $185.8 million. Slot hold increased from 5.2 to 5.43 percent. On the tables win was up 16.2 percent to $3 million. Play was up 15.2 percent to $14.9 million. Hold declined slightly from 20.21 to 20.38 percent.
In the balance of Elko County win was up 2.69 percent to $6.7 million. Slot win was down 1.3 percent to $5.8 million. Slot play was up 1.8 percent to $91.5 million. Hold fell from 6.53 to 6.33 percent. Win from table games was up 43.3 percent to $823,000. Table play was up 8.2 percent to $3.4 million. Hold increased from 18.5 percent to 24.5 percent.
“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 the entire state Nevada gambling revenue dropped 2.7 percent to $884 million in January compared with the same time a year ago.
Michael Lawton, senior research analyst for the board, said a big reason for the drop was baccarat. The casinos’ win on baccarat fell 16.4 percent as players won more of their bets. Lawton said there was no indication that the decline had anything to do with the advent of full-scale internet gambling in New Jersey and Delaware.
Las Vegas Strip winnings of just under half a billion dollars were down a little more than 1 percent last month.
Downtown Las Vegas winnings of $43 million were down 3 percent. North Las Vegas was off 13.4 percent; Boulder Highway casinos were off 18.1 percent, and Mesquite inched down 0.4 percent.
The win, computed before business expenses and taxes, increased 4.5 percent in Laughlin and 0.5 percent in the balance of Clark County.
Reno casinos brought in $38 million in January, which was up 1 percent year-over year. South Lake Tahoe revenues of $15 million were down 12 percent.
The state collected $69 million in taxes on the January winnings, which marked a 2 percent increase from the same time last year.