Tahoe Casino Revenue Declines as most of State Increases

by Placerville Newswire / Feb 01, 2016 / comments

The only markets that were down were North Shore and South Shore casinos at Lake Tahoe and, unfortunately, the Las Vegas Strip which was off four-tenths compared to 2014. Total win on the Strip was $6.35 billion.

North Shore casinos saw the largest percentage decline at 3.1 percent. Casinos there won a total of $24.8 million. That area has had only two years in which total win was up compared to the prior year in the last decade.

South Lake Tahoe casinos at Stateline won a total of $205.7 million in 2015, down seven-tenths of a percent compared to 2014.

That’s the market’s third consecutive decrease. South Shore has seen only three annual increases in the past 15 years, according to Gaming Control Board analyst Mike Lawton.

Washoe County was also among the top markets for growth in 2015, collecting a total of $776.4 million — a 3.2 percent increase over the previous year. That’s Washoe’s largest total win since 2009.

Statewide, slot win increased 3.8 percent in 2015, but game and table win fell just under 3.8 percent, primarily because of the decline in Baccarat play. In large part, that’s attributable to the Chinese government’s restrictions on those taking large amounts of cash out of the country, which has significantly reduced high roller play in Las Vegas.

As a result, Baccarat win came in at $1.3 billion — more than 14 percent less than in 2014.

Blackjack, however, increased 3 percent to $1.1 billion. That’s the largest total win for that game since 2008.

Sports books had another banner year, winning $231.8 million. That’s up 2.1 percent and, just like the previous five years, an all-time record.

Despite the attention on Baccarat, slot win is still king. The machines brought in $7 billion of the $11.1 billion total, 63 percent of the total statewide win.

Altogether, $138.4 billion was wagered in Nevada during 2015, $106.7 billion on slots and $31.8 billion on table games.

Nevada’s nonrestricted casino licensees raked in $11.1 billion in 2015.

That is just under a percent more than casinos won in 2014 and the fifth year-over-year increase in the past six years.