The cancellation of Speed Week may have Wendover casinos millions in gaming win according August’s gaming win report.
Released this week the Gaming Control board reported Wendover casinos made $13.9 million in total gaming win down 5.0 percent from the same month last year. Wendover Casinos had been on a three month roll of increasing gaming win including one of their best July’s in even years with a14 percent increase.
click link for report mrraug15
“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 was down 6.9 percent to $10.8 million. Slot play was up 3.2 percent to $207.8 million. Slot hold dropped from 5.78 percent in August 2014 to 5.21 percent this August.
On the tables win was up 2.4 percent to $3.1 million. Play was down 7.6 percent to $13.8 million while hold grew from 20.0 percent to 22.13 percent.
While Speed Week was also canceled last year the event was called off just shortly before it was to take place and many of the racers had already arrived in Wendover. This year Speed Week was canceled about a month before the event.
September’s numbers could be just as bad with the cancellation of World of Speed the second largest racing event on the salt flats.
Total gaming win for the balance of the county increased by 6.19 percent to $7.24 million.
Slot win was up 8.7 percent to $6.9 million. Slot play was down 8.4 percent to $104.5 million. Slot hold decreased from 6.65 percent to 6.63 percent.
On the tables win was down 8.3 percent to $908,000. Play at $4.0 million was down 8.3 percent.
The Great Fall of China again his Vegas hard with the decline in baccarat play. Total win for the state was down 8.37 percent to $830,940,221.
According to Gaming Control Board analyst Michael Lawton, the total amount bet on baccarat had been sliding, increasing just three times year-over-year in the last 12 months.
In March alone baccarat play fell over 30 percent. Baccarat now makes up 15 percent of total gaming win in the state and nearly 38 percent of Game and Table win.
This spring the Chinese government began a massive crack down on graft and corruption which either put many baccarat players in jail or made them much more cautious about taking gambling junkets to Las Vegas.