Nevada Win Tumbles As U.S. Economy Slows Down, Customers Spend Less

The state of the economy is affecting casino facilities on Las Vegas as customers are tightening their belts in order to save more money and at the same time enjoy playing different casino games. On June 12th, 2008, facilities stated a drop in casino win for April. The overall total was just $1 billion, a five percent slide from April 2007.

Frank Streshley from the Gaming Control Board commented that the most glaring thing is the drop in almost every aspect in the Nevada gambling market in the overall total spent on slot machines. But that amount drop by 7.6% in the month of April to $10.5 billion. Streshley said that after a 6 month drop compared with the same period on 2007, there is good evidence that the economy has a bad effect on the spending power of people.

The only exception to the dull performance of the casino was the South Lake Tahoe area where the casino win improved to 12.7% to $24.4 million. The total slot wins edge out the statewide pattern, growing by 9.1%. Casino games and card games improved by 23.3% at the South Shore area, pushed by the good performance of blackjack. South Tahoe Casino facilities did well in March, posting a fifty-four improvement. In the area of Carson Valley, which also includes Douglas and Carson City, the drop was four percent or $8.7 million.

Total slot win drop by 5.2% with overall coin drop by 8.6%. Casino facilities on the North Lake Tahoe area experienced a bad month in April, experiencing a 38% drop in overall casino win or $1.9 million. The total cash played in slot machines drop by 26% and the casino table games win drop by 48%.

Washoe County casinos drop by 11.9% for April to $78 million. Statewide, casino table games win and gambling win drop by 4.4% to $364 million even though the games of baccarat, craps and roulette only experienced a minimum win drop.

The win on the game of blackjack improved by 12% or by $123 million. The total slot casino win drop by 8.9% to $671.5 million. As an overall result, the state projections on the budget drop by nine percent.