Casino winnings rebound in October

In this 2010 photo, a baccarat game is shown in the high-limit room at Hard Rock Hotel.

Casinos on the Las Vegas Strip rebounded from two off months to post winnings of $560.5 million in October, an increase of 13.2 percent compared to a year ago.

The Gaming Control Board also reported that casinos statewide shook off two months of decline, posting an improvement of 8.1 percent with winnings of $960.6 million.

The higher winnings on the Strip — computed before taxes and business expenses — were paced by baccarat and slot machine play. October's increase is compared to a 16.2 percent increase in winnings in October 2010.

Michael Lawton, senior research analyst for the control board, said special events helped boost the gaming win — the Golden Week Baccarat Tournament at the MGM Grand and Wynn, an Indy car race and an ultimate fighting event at the Mandalay Events Center.

The baccarat winnings at 17 Strip casinos totaled $159.3 million, up 74.2 percent, a record October for Baccarat on the Strip. Lawton said the casinos "held" 19 percent of what was bet compared to an average hold of 12 percent.

Meanwhile, slot winnings from 41 casinos rose 5.4 percent, to $245.8 million. Megabucks winnings jumped 22.5 percent and the penny machines grossed an additional 20.5 percent.

The traditional games, however, all saw a decline in win. The gaming board reported blackjack winnings fell 5 percent in October on the Strip, craps was off 29.5 percent and roulette was down 25.7 percent.

Sports betting on the Strip fell 13.7 percent due to a decline of $950,000 in winnings on football bets, Lawton said.

The board reported win in downtown Las Vegas casinos increased 8.1 percent, North Las Vegas was up 15.3 percent, the Boulder Strip rose 13.7 percent and Mesquite inched up 1 percent.

Casinos in Laughlin reported a drop of 2.8 percent in winnings. And casinos in the balance of Clark County were off 0.7 percent in gross win.

Washoe County casinos fell by 9.3 percent in gross win, while Elko County was down 1.9 percent and the Carson Valley was off 3.7 percent.

South Lake Tahoe casinos posted an increase of 4 percent, the fourth straight month of higher winnings.

The state collected $65.3 million in taxes for the month, up 8.6 percent. But taxes for this fiscal year so far are $264.8 million, down 2.3 percent from the same period a year ago.

Gaming

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