All-Time Record Percentage Decline in Gaming Win in 2009
CARSON CITY – Nevada’s gaming win in calendar year 2009 tumbled to its worst performance since records began 55 years ago, declining 10.4 percent over 2008, the state Gaming Control Board reported today.
The $10.4 billion win in 2009 represents the worst percentage drop since 1955, said Frank Streshley, chief of tax and licensing for the board. The second worst year on record was 2008, when revenues declined by 9.7 percent, he said.
The only other two declines on record were modest, coming in 2001 and 2002, Streshley said.
“Prior to this decade, since we’ve tracked the numbers since 1955, we’ve not ever had a decline until 2001, and then within this decade we’ve had four declines, with the largest being 2009 at 10. 4 percent,” he said.
Despite the gloomy numbers, there is reason to believe a turnaround may be under way, Streshley said.
In the first six months of 2009, gaming win was down by 13.4 percent over the same period in the prior year. In the second six months the decline was 7.2 percent.
The agency also released the December gaming report, which showed a 3.2 percent decline over December 2008. Even so, the Strip was up in December, posting a 5.9 percent gain primarily due to a big baccarat win, Streshley said.
The baccarat win was $158 million, a 103 percent increase over December 2008.
The total December statewide gaming win was $859.3 million.
Another likely factor helping the Strip numbers was the opening of CityCenter. Two of the hotel towers opened on Dec. 1, and Aria the casino opened on Dec. 16.
But no other gaming market in the state in December saw a gain except the Carson Valley.
After the first gaming revenue gain in 22 months in November 2009, Streshley said he was a bit disappointed at the December decline.
New Year’s was supposed to be strong, but only Dec. 31 is reflected in the December report, he said.
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