Nevada land gambling revenues rebound

The Nevada Gaming Control Board released its March numbers for the gambling industry Tuesday, reporting that baccarat action helped the industry to overcome a two consecutive months-long decline to rebound to a 7.6 percent increase in revenues.

Gaming revenue state-wide increased 7.6 percent to $982.2 million during the month, with gaming revenue up 10.9 percent to $560.7 million on The Strip.

The figures followed state-wide gaming revenue declines of 13.7 percent in February and 2.7 percent in January.

Year-over-year baccarat revenue increased 39.9 percent in March to $101.8 million on wagers of $703 million; blackjack revenue jumped 6.1 percent; craps revenue grew 36 percent; and slot machine revenue was up 3.8 percent.

Slots continued to perform well; Control Board Senior Research Analyst Michael Lawton said slot machine wagering figures on the Strip have increased for three consecutive months, suggesting that visitors are spending more on gaming.

Casinos held 14.47 percent of all wagers, as opposed to 10.25 percent last year.

The control board said the state’s three Internet poker websites collected $926,000 in gaming revenue, an increase of 12.2 percent over February’s results. For the first 11 months that Internet poker has been legal in the state, total revenue has been $9.4 million.

Gaming taxes collected on the March revenue figure reached $84.1 million, a 7.39 percent increase over the same month a year ago. But for the first 10 months of the fiscal year, gaming tax collections are up less than 1 percent.

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