CARSON CITY, Nev. -- Nevada casinos won $877.4 million from gamblers in January, a slight decrease from the same month a year ago and a disappointing showing for a month that brought convention-goers and prize fight enthusiasts to the Las Vegas Strip, the state
January's winnings were down 0.7 percent from the same month in 2010.
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Twitter"There were a lot of positive metrics. The numbers just didn't come in like we had anticipated," said Mike Lawton, senior control board analyst.
One reason was a big drop in baccarat play, a high-roller game favored by Asian players.
The amount wagered was $595.2 million, down $243.1 million or 29 percent from the same month last year, the report said. And those who did bet on baccarat were luckier than the house. Casinos won $65.1 million on the game, down nearly $43 million or 40 percent.
Without baccarat, the statewide total win would have been up 4.8 percent or $37 million.
Casinos on the Las Vegas Strip, the economic engine that fuels Nevada's gambling and tourism economy, won $482.7 million in January, down 2.5 percent.
The decline was surprising for a month that had the UFC title fight between Frankie Edgar and Gray Maynard at the MGM Grand, and four conventions, including the Consumer Electronics Show.
"Hopefully it's just a bump in the road," Lawton said.
The "win" figure is what was left in casino coffers after gamblers wagered $10.8 billion at slots and table games. A breakdown shows the amount wagered at games totaled $2.3 billion, down 13 percent, and $8.5 billion at slots, down 2 percent.
For the fiscal year that began July 1, statewide casino wins are up 1.2 percent.
Elsewhere in the state, casinos in Washoe County, which includes Reno, won $57.2 million, down 4.9 percent. Winnings were up 2 percent in Elko County; 10 percent in the Carson Valley; and 8.3 percent in downtown Las Vegas. They were down 7.8 percent at South Lake Tahoe.
On the bright side, the report showed taxes collected on the casino wins totaled $68.8 million, up more than 15 percent. Collections often don't correlate with month win figures because casinos pay taxes after they collect wagers made on credit.
Taxes on casino winnings make up about a third of Nevada's general fund revenues.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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