Nevada’s casinos enjoyed a significant increase in gaming win in February, the Nevada Gaming Control Board announced.
The state’s gaming operators reported total gaming win of $932.2m in February, up 5.72 per cent on the figure recorded in the same month last year.
Clark County, which includes the Las Vegas Strip, saw gaming win increase 5.55 per cent and Washoe County – containing Reno – and South Lake Tahoe enjoyed gaming win increases of 8.14 per cent and 10.25 per cent, respectively. For the fiscal year to date, Nevada’s casinos have seen gaming win increase 3.95 per cent, prompting some to suggest that the state’s gaming market is making a recovery.
According to a recent report by Moody’s Investors Service, Las Vegas in 2012 is projected to break the all-time visitor volume record of 39 million visitors, which was set in 2007.
“After suffering through a deep trough during the recession when visitor volume declined as new capacity came online, the Las Vegas recovery is under way,” said Peggy Holloway of Moody’s. “Hotels are benefiting from increased visitor numbers that permit higher room rates, while gaming revenues are recovering, albeit more slowly.”
In contrast, Atlantic City, which is now the third largest gaming market in the US after being overtaken by Pennsylvania, saw gaming win fall in March.
Statistics from the state’s Division of Gaming Enforcement revealed that total casino win was down five per cent to $266.3m last month, with table game win taking a 10.6 per cent hit.
