Reno and Lake Tahoe are seasonal markets, driven largely by recreation, not gambling – the complete inverse of Las Vegas. If the skiing or boating is good, so are the casino receipts. If the passes out of California are blocked or there’s not a lot going on recreationally, it shows up in the gambling revenues. (Back in 1998, the flooding of Truckee River forced the closing of some downtown-Reno casinos – an eventuality that would seem absurd in Southern Nevada.)
Last January, for example, Reno enjoyed a 10% spike, while Tahoe was up 4.5%, as they had been in December … traditionally a slow month for Las Vegas. Clark County was only up 1% that January, particularly due to some terrible numbers out of Laughlin.
As to the June figures, some specific contributing factors in the northern market were pinpointed by Michael Lawton, senior research analyst for the Nevada State Gaming Control Board, who observed that in Northern Nevada numbers were helped by a Don Henley concert on June 28 and a U.S. Women’s Open bowling event from June 21 to June 27. "You’ll see that Reno’s visitation was up 3.4 percent for the month of June," Lawton said. "That’s the first increase they’ve had in a few months so those were definitely good events." Thanks to that increase in visitation, Reno saw a 9.4 percent increase in its gaming win in June, which helped drive a 7.26 percent Washoe County increase, while the Lake Tahoe's South Shore casinos at Stateline also did very well in June — up 17.2 percent to $16.55 million.
February weather, however, must have been pretty inclement up north, as Reno was -9% and Tahoe -4%, while Clark County rose 4% (+22% on the Strip alone). And while Las Vegas was slogging through a lousy March, Lake Tahoe reported a 9% bounce from the same month in 2011. Weighting one month against another is made more difficult still by the quirky manner in which the Nevada Gaming Control Board tallies money. All table-game revenues are counted toward the month in which they were made. However, if the month ends on a Friday, Saturday or Sunday, that coinage is credited to month following.
Why? Casinos tend not to empty and count slot hoppers until Monday. Bowing to this practice, the Control Board effectively shifts large blocks of slot revenue from the month in which it was made into the one when it was tallied. Disparities in the number of weekend days (say, one fewer this month than last) can also nudge casino revenue up and down a bit, although the effect appears to be less drastic than the delay in slot reportage.
Yes, it’s kind of confusing but casino gambling in Nevada defies any sort of ‘one size fits all’ method of analysis. Or so we’ve found.
