CASINO

Nevada casinos flat in April, while Atlantic City’s slide continues in May

TAGs: Atlantic City, Las Vegas, Nevada

nevada-atlantic-city-casinoNevada casinos earned gaming revenue of $854.3m in April, a mere 0.16% decline over the same month last year. Year to date revenue is up 2.4% statewide, while revenue on the Las Vegas Strip is up 5%. There were no great upheavals in any of the individual revenue channels, unless you consider it significant that in the same month the state’s first intrastate online poker site went live, land-based poker revenue declined 6.66%. Is Satan now cutting Nevada’s decks?

Nevada slots win was $595m, up 6.7% over April 2012 on a 1.37% hold. Blackjack revenue slipped 1.55% but still led all table games with $76.5m. Baccarat fell 1.68% to $64.9m on a win rate of 12%. Roulette win rose nearly 18% to $29.2m thanks to a win rate of 23.4%, while craps fell 32.5% to $23.3m on an 11.5% win rate. Three-card poker fell 3% to $12.7m, pai gow poker slipped 0.8% to $8.2m, mini-baccarat rose 23.3% to $6.9m, while keno fell 8.5% to $2.4m. Race book revenue fell 3% to $3.7m on a 15.7% hold, while sports book win rose 17.9% to $5.7m on a 3% hold.

Meanwhile, Atlantic City’s casino revenue slipped 3.8% in May, which the Division of Gaming Enforcement is declaring “an improvement” over the trend that developed over the first four months of 2013. Total casino win was $253.1m, with slots win off 3.7% to $180m and table games off 3.9% to $73.2m. For the year to date, casino win is $1.138b, a 10.4% drop from the same period last year. Just four AC casinos – the Atlantic Club, Borgata, Caesars and Resorts – posted revenue gains in May, with the Atlantic Club leading the pack with a 24.5% gain over May 2012, although it’s not clear how much of that extra cash came from Isai Scheinberg.

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