Nevada casinos won nearly 13 percent more money from gamblers in November even though the giant Comdex computer trade show in Las Vegas was canceled and the month had two fewer weekend days.
The state's total gaming win -- revenues collected by casinos -- was $ 862.1 million, up 12.9 percent from the previous November.
Clark County casinos led the way with reported revenues of $ 720.4 million, almost 14.1 percent higher than the previous year. Strip casinos recorded a 9.3 percent increase, winning $ 423.9 million from gamblers during the month.
Analysts said the strong month for the state -- every major casino jurisdiction except Sparks showed an increase -- points toward a continuing vibrant market, especially in Las Vegas, where visitor volume remains high and the weak American dollar has lured foreign visitors.
"From most accounts, we expected November to show some increase from the year before, but the double-digit jump shows the strength of tourism," said Frank Streshley, senior research analyst for the Gaming Control Board. "We had an issue with the calendar where there were two less weekend days than in 2003, and Las Vegas didn't have Comdex for the first time in quite a while. Still, it was a very strong month on the Strip."
Marc Falcone, gaming analyst for Deutsche Bank, said the lack of Comdex may have helped Strip gaming numbers.
The computer trade show had been held in Las Vegas every November since 1979. Show attendance peaked in 1998 with more than 220,000 delegates. After attendance fell because of the bust of the dot-com bubble and the events of Sept. 11, 2001, show producers in June canceled the event for 2004.
Still, the four-month window allowed resort operators to fill rooms with more free and independent travelers who brought fatter gambling bankrolls to town, Falcone said,
"There has always been the debate as to whether Comdex was good for the city because the delegates didn't seem to gamble much," Falcone said. "It looks like the resorts were able to fill the rooms at a higher rate with customers that were better players and better for the casinos."
Statewide, the win for slot machines during the month was up 22.3 percent, offsetting a 6.7 percent slump in the win for table games. Sports book operators statewide suffered the biggest losses, dropping $ 26 million during the month. Having one less weekend also contributed to the loss. Gamblers cashing winning tickets on bets involving the NFL was the primary reason for the drop. |
