Not a happy June in the LVBP

My latest Las Vegas Business Press column is out, in which I dissect the June Nevada numbers:

The June results are in, and whatever the national economic picture, one thing is certain: Nevada gaming remains moribund. The figures released by the Gaming Control Board aren’t much cause for optimism, though things look a little better for Southern Nevada than for the north.

via Las Vegas Business Press :: David G. Schwartz : Latest data provide little optimism for gaming.

Basically, even without the incredibly low bacc hold on the Strip, it wasn’t a good month for the state, as slot handle continues to fall and table handle is mostly kept afloat by high levels of bacc play, play which happens in maybe a dozen casinos. But even if the bacc hold percentage had been more in the house’s favor, it still probably would have been a flat month.

Also, an interesting article in the LV Sun about the decreasing number of slots in Nevada, something I’ve written about. I’ve got one question: if it’s just a matter of having more games on each slot, why has the statewide win per slot only inched up slightly ($108.76 vs. $110.04) since 2004? The total win is declining in addition to the total number of slots, so each slot is doing about the same about of “work” it was six years ago, multiple games or not. Sure, the counter-argument is that revenues would have declined more without the game menus, but still, there hasn’t been a real increase in per-machine revenue generation yet.

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