Nevada casinos take more than $1 billion in March
The take was similar to what was seen in March of last year
March was a good month for casinos in Nevada, even if they might not agree. According to gambling regulators, the casinos took over $1 billion in earnings during the month, an amount that is roughly the same as it was last year. Even if the casinos were not able to increase their winnings, $1 billion is certainly an impressive number.
Casinos on the Strip were responsible for over 50% of the amount, but house winnings in the Strip casinos dipped almost 4% – around $552 million – compared to March of last year. Other areas in Clark County and South Lake Tahoe saw their winnings increase by 8% or more.
The results were a slight improvement above February’s figures and proved beneficial for Nevada’s coffers. The state earned just under $80 million in percentage fees due to the winnings, an increase of 6.3% over last year’s numbers.
Since March 2005, Nevada has surpassed $1 billion 42 times. The biggest win came in October 2007 when Nevada’s casinos took in $1.165 billion.
As has been the case in recent months, drops in revenue were attributed to declines in baccarat play. According to Michael Lawton of the Nevada Control Board, “Baccarat win, which totaled $53.6 million was down 54.3 percent, or $63.6 million. Volumes were down significantly compared to last year. Baccarat volume totaled $484.3 million, which was down $351.5 million or 42.1 percent. Excluding baccarat, the state would have increased 6.9 percent in total win.”