pacomartin
pacomartin
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May 11th, 2010 at 10:46:54 AM permalink
So baccarat is still saving the strip. The strip went up $11M across the board. Baccarat went up $19M and everything else dropped $8M.


But it teaches me to make predictions. I was wrong about Baccarat hitting it's traditional dip in March. It defied history and hit a record return (for a March). I don't know what the drop was yet.

* Blackjack went up by $2 million over March of last year. A trend or a blip?

* Slots went up 0.09% after 20 months of decline. In cash that is about $1/4 million. There was big play on $100 machines. I was wrong about the slots as well as I thought they would continue to decline.

* Craps and roulette nosedived by 33%.


==================================
Statewide casino win decreases slightly during the month
By Cy Ryan (contact)
Published Tuesday, May 11, 2010 | 8:02 a.m.

CARSON CITY – Casinos along the Las Vegas Strip posted their fourth increased win in the past five months in March, buoyed by strong performances in Baccarat and sports betting with the college basketball tournament.

Casinos in downtown Las Vegas, however, registered their 22nd consecutive month of declining gaming win. But casinos in Laughlin ended 27 straight months of lowered win, recording a 2.4 percent increase in March.

The state Gaming Control Board reported today that casinos statewide won $912.1 million in March, computed before business expenses and taxes. That was a 0.66 percent decline from the same month of a year ago.

Other gaming areas in Clark County reported a decreased win compared to March 2009.

The Strip accounts for more than 50 percent of the state’s gaming win. Strip casinos posted $467 million in, up 2.4 percent. For the first three months of the year, the gaming win on the Strip increased by 9.8 percent.

For the 11st consecutive month, the 17 casinos that have Baccarat reported an increase, up to $52.7 million.

Sports betting jumped 527.5 percent to $7.6 million. Players lost $12.1 million in basketball during the time of the NCAA basketball tournament.

Frank Streshley, chief of tax and licensing for the board, said the high-end play is coming back on the Strip, and convention business has been strong.

“We hit the bottom and are slowly climbing out,” he said.

He said the locals markets in Clark County will lag behind the Strip. He said as Strip casinos hire more workers, those employees will play in the locals markets.

After 20 consecutive months of decline, the win in slot machines on the Strip registered a small 0.09 percent increase. The biggest gains were recorded in the penny slots, up 10.3 percent, and the $100 machines, an increase of 113.4 percent.

Strip casinos reported a 1.8 percent increase in win on Blackjack tables but registered 33 percent declines both in craps and roulette.

The board reported downtown Las Vegas casinos won $49.3 million, off 10.6 percent from March 2009. North Las Vegas casinos had a $28.1 million win, down 11.7 percent. The Boulder Strip posted a 4.9 percent decline on gross win of $75.5 million. Mesquite casinos dropped 3.4 percent to $11.9 million and the balance of Clark County reported a 5.2 percent drop to $94.5 million.

Laughlin casinos won $52.7 million, up 2.4 percent with slot win increasing by 2.9 percent and table win falling 0.4 percent.

After 31 months of declines, Washoe County casinos registered their second straight increased win, up 1.5 percent in March. After 19 consecutive months of declining revenues, South Lake Tahoe casinos registered a 7.5 percent increase.

Casinos in Elko County fell by 5 percent in gaming win but Carson Valley casinos posted a 2.2 percent increase.

The board reported the state collected $79.9 million, or an increase of 6.8 percent, based on the gaming win in March. Part of that is due to marker repayment, Streshley said.
boymimbo
boymimbo
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May 11th, 2010 at 11:11:21 AM permalink
For the strip, table games are up 5.70% in March over the previous year, with table revenues of 202,090,000. Slot revenue is flat (growth of 0.11%) year over year. 21 is also flat at a 1.81% growth year over year sthough I believe it has had its best month in a while. Baccarat led the charge with a 58.95% growth over last year, meaning (to me) that the whales from overseas are still being flown in and are playing in Vegas. But Mini-Bacarrat is also up 43%. Craps and Roulette suffered significant losses in revenue year over year for March, off about 1/3rd.

So, overall, I think it was a decent month for the strip, with Baccarat whales leading the way, but the rest of the sector being flat compared to a year ago.
----- You want the truth! You can't handle the truth!
Doc
Doc
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May 11th, 2010 at 11:26:33 AM permalink
Quote: pacomartin

Craps and roulette nosedived by 33%.


That seems quite likely to be due to the fact that I didn't make it to Vegas in March. :P
pacomartin
pacomartin
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May 11th, 2010 at 11:40:35 AM permalink
You have better access to details than I do. I'm not sure how since they haven't posted the detailed Gaming Revenue sheet yet.

I predicted far worse. I thought the Baccarat players would stay away as they did in March in past years. I also expected slots to keep dropping.
Keyser
Keyser
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May 11th, 2010 at 2:25:43 PM permalink
Down 33%,

Wow. Very interesting and entertaining.
boymimbo
boymimbo
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May 11th, 2010 at 3:24:22 PM permalink
Frank,

The gaming sheets were available a few hours ago at the Gaming Commission's web site. Do you have a different source?

So, March represents the second month in the row where the year over year "Money In" (revenue / win%) has grown for 21 (3.61% in March) and all other Table Games (14.49 in March).

Roulette's loss is simply due to win% being 13.81% this year vs 26.58% a year ago. "Money in" for roulette actually grew 28.9% year-over-year while the money in for Craps was flat at -.15% YoY. Bacarrat is up 35% year over year. For all games, money in is up 14.5% year over year.

This is promising.
----- You want the truth! You can't handle the truth!
boymimbo
boymimbo
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May 11th, 2010 at 3:25:02 PM permalink
Quote: Doc

That seems quite likely to be due to the fact that I didn't make it to Vegas in March. :P



I did and my contribution to craps should have helped.
----- You want the truth! You can't handle the truth!
gambler
gambler
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May 11th, 2010 at 4:25:15 PM permalink
I like how 1 cent slot machines make more money then even baccarat.
pacomartin
pacomartin
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May 12th, 2010 at 10:55:01 AM permalink
Quote: gambler

I like how 1 cent slot machines make more money then even baccarat.



To refine what I said earlier, baccarat went up $19,556,000 for March, and the rest of the pit went down -$8,609,000. I was expecting it to be much worse, but blackjack had a mini surge, and slots held their own. The other losses were in craps and roulette.


Baccarat went up this March relative to March a year ago. However, it is still a relatively weak month for Baccarat. It was beaten by both penny slots, and blackjack (for the first time 9 months).

I guess I was wrong about MGM-Mirage. They lost 5% in total revenue, and 25% in operating income (not including the ARIA debacle). Every single property went down in operating income, and only Monte Carlo had slightly higher total revenue. I thought that part of that would show up in the gaming numbers, but since the gaming revenue held up for the last 3 months, it does look like they lost all that money in non-gaming revenue.
pacomartin
pacomartin
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May 12th, 2010 at 5:23:36 PM permalink
Latest graphs include March



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