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Nevada's State Wins for April Improve Thanks to Baccarat and Slots
After a hard February and an off month in March, the profits from Nevada Gaming improved in April. The casinos across the state won a total of $1.053 billion from players during April, an improvement of 6.4% compared with the $989.9 million in April 2006, according to the report released by the Gaming Control Board on June 8, 2007.
Gaming Analysts commented that the numbers were important on 2 fronts. The results marked the first time that the Nevada Casino breached the $1 Billion total for casino wins during the month of April and the good results came despite the problems that month, a 13% improvement compared to the same period a year ago.
Frank Streshley, the Gaming Control Board's Senior Research Analyst said that these results were better than they expected. Casinos reported a casino win of $1.054 billion in March 2007, a decrease of less than 1% during March.
In April 2007, the statewide casino wins from the slot machines were $736.4 million, an 11.4% improvement from last year. The sum of money that the customers bet on slot machines was $11.3 billion, which was down less than 1%.
The total win from the casino table games was $303.1 million, which was less than 4.1% from April 2006. Justin Sebastiano from the Nollenberger Capital Partners said that they believe the slots win is affected on the time that the money was put in the slot machines.
So they believe that the gaming win in March was underestimated and the gaming win in April 2007 was overestimated. On the Las Vegas strip, the casinos won $529.2 million in April, a 2.4% improvement compared with the $516.6 million that were collected by the casinos last year.
The analysts said that the total baccarat game wins helped the strip casinos regarding their total wins. The state reported a total of $60.4 million in Baccarat profits. They expect that big events in Las Vegas such as the Mayweather-Dela Hoya match will keep profits high.
Streshley said that the performance of Baccarat was stronger than they were expecting. Analysts also said that the timing in counting the total slots win also helped the casino's wins.
Tuesday, June 19, 2007