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Nevada casinos not so lucky in July, according to control board

Reported by: Gerard Ramalho
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Updated: 8/30/2013 11:29 pm
LAS VEGAS (KSNV & MyNews3) -- Nevada's gaming numbers are in tonight and while the casino take is positive, it's not quite as good as it was last year at this time.

It's true, In Las Vegas the house always wins but this time it just didn't win as big.

"There's no need to hit the panic button this month,” said Dr. David Schwartz with UNLV's Center for Gaming Research. “Basically what happened, the casinos were a little bit less lucky in baccarat than they were in July 2012. In July 2012 they got very lucky. Here they were just back to their normal run of luck."

According to the gaming control board, Nevada casinos collected about $925 dollars from gamblers in the month of July. That's a decline of about 8 percent from the same period last year.

"Over time the house wins, but in the short turn there's a lot of luck, there's a lot of fluctuation. And sometimes they don't win as much as they should, sometimes they win more,” Schwartz said.

“Last year's casino take was unusually high and this time it was just about normal,” Schwartz said.

He adds in some ways, losses benefit casinos, especially at the high-stakes baccarat tables.

Those players are often from foreign markets like Asia and when players win, he says, that helps to ensure they'll be back and possibly tell their friends.

For Las Vegas, that part too is a gamble, but one the city has banked on since the beginning.



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