Well it may be good news for some but others are not so lucky. Whilst gamblers on the Las Vegas Strip presented the casinos there with US$506.7 million in June, a rise of 32.3%, players in Atlantic City, traditionally the second largest gaming city in the US, were less generous the following month and gambling revenue fell 6.5% in July compared to June figures. Casinos in the whole of Nevada reported a 16% increase over June 2010 and the rise was not only due to baccarat revenue.
Despite the better results in Nevada, some of the state’s casinos were less fortunate. Clubs at South Lake Tahoe suffered a 28.5% decline and casino revenue in Reno and Washoe County fell 2.8% and 1.7% respectively. However, casino win statewide for the fiscal year that ended 30 June 2011 was up 3% from the previous year. The June figures just released by the Nevada Gaming Control Board may have been encouraging for operators but the effects of the latest financial crisis have yet to be factored into future results.
June betting on table games in Nevada was up 14.4% and on slots by nearly 2%. On the opposite side of the US revenue in Atlantic City was down 3.7% in June, and last month table games revenue fell 15% and slot machine revenue fell 3%. June might have been a better month for Atlantic City casinos had not one lucky gambler walked off with an US$8 million win. The trend may be on the up in Nevada and still sinking in New Jersey but it remains to be seen how August treats operators in both jurisdictions. (E-08.11.11)
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