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Total Casino Win for Casino Games Like Baccarat Vary for the First Part of the Year
On May 9th, 2008, there was no good news for Nevada Casinos especially for the month of February. The casinos may have won a total of $1.01 billion but it is smaller compared with the total win of the casinos on the same period last year. The drop occurred despite the Superbowl, the three-day holiday of President's Day and others.
Gaming Control Board analyst Frank Streshley commented that they are very disappointed about the results but it is not unexpected. It is an evidence of a weak economy and visitors tightening their belts. The $1.01 billion win was the cash left in casino treasury after players bet $13.9 billion during the month of February, including the $10.8 billion in slot machines wagers and the remaining balance on casino table games.
The win for the month of February bought the total win for the current fiscal year to $8.54 billion. That is only 0.2% increase compared with the result for the same period last year. The report of the gaming control board is the latest report that shows the worrying economic condition in the country.
Taxes impose on casinos and on sales are the two biggest profit resources for the state government. The dropped in those profits has been a major part of a study that the state government will have a shortfall of more than nine hundred million dollars by mid-2009. The Gaming Control Board report states that most major markets in the Las Vegas strip had smaller casino wins compared with the month of February.
The Las Vegas strip suffered a 3.1% slide and the Boulder Strip suffered a slide of 14.1%. The total win for the resorts bought Nevada's tax take from pubs to $570.9 million this year. That is $50 million or eight percent below the amount predicted by the state's Economic Forum last spring. Slot machines accounted for $621.3 million of the total win.
That number includes the $280.6 million won from multi-denomination slot machines. Penny slot machines were second with a total win of $134.2 million. Live casino games like poker account for the rest of the gaming win on February. That includes the $116.3 million on blackjack gaming tables, which is down by 10.3%; $45.6 million on craps, which is down by 1.6% and $35.5 million on roulette, which is up by 20.8%.
The total win on the game of baccarat was $117.4 million, which is up by 0.4% and the total win on mini-baccarat was $10.8 million, which is down by 31.7%. Sports books lost around $6.8 million, which is down by 181.4%. Poker games won a total of $13.2 million, which improved by 0.1%.
Tuesday, May 20, 2008