NEW YORK, May 9 (Reuters) - Gambling revenue in Nevada increased 3 percent in March from a year earlier, as strength in the market for local residents and Las Vegas offset effects of harsh weather in the northern part of the state, the state said on Monday.
Gambling revenue, known as gaming win, in March increased to $1.06 billion from $1.03 billion a year before, while that on the Las Vegas Strip increased 6.2 percent to $546.1 million, the Nevada Gaming Control Board said in a statement.
The results reflect the "continuation of the strong results we have seen over the last 20 months and the opening of the Wynnn property," said Frank Streshley, an analyst at the Nevada Gaming Control Board.
Wynn Resorts Ltd. (WYNN.O: Quote, Profile, Research) opened its casino on the Las Vegas Strip in April last year. Other properties along the Las Vegas Strip -- the heart of the casino industry in Nevada -- include the MGM Mirage (MGM.N: Quote, Profile, Research)-owned Mandalay Bay and Harrah's Entertainment Inc.(HET.N: Quote, Profile, Research)-owned Caesars Palace.
Major gaming companies in Nevada also include Station Casinos Inc. (STN.N: Quote, Profile, Research), which caters to Las Vegas residents, and Boyd Gaming Corp. (BYD.N: Quote, Profile, Research)
Casinos in Washoe County in the northern part of the state reported a 3.2 percent decline in revenue, with Reno properties seeing a 3.5 percent drop in their gaming win to $60.3 million in March from a year earlier.
"This month the northern part of the state was affected by a record amount of snowfall," Streshley said. "There were numerous road closures with the main arteries coming over from California."
© Reuters 2006. All Rights Reserved.
Gambling revenue, known as gaming win, in March increased to $1.06 billion from $1.03 billion a year before, while that on the Las Vegas Strip increased 6.2 percent to $546.1 million, the Nevada Gaming Control Board said in a statement.
The results reflect the "continuation of the strong results we have seen over the last 20 months and the opening of the Wynnn property," said Frank Streshley, an analyst at the Nevada Gaming Control Board.
Wynn Resorts Ltd. (WYNN.O: Quote, Profile, Research) opened its casino on the Las Vegas Strip in April last year. Other properties along the Las Vegas Strip -- the heart of the casino industry in Nevada -- include the MGM Mirage (MGM.N: Quote, Profile, Research)-owned Mandalay Bay and Harrah's Entertainment Inc.(HET.N: Quote, Profile, Research)-owned Caesars Palace.
Major gaming companies in Nevada also include Station Casinos Inc. (STN.N: Quote, Profile, Research), which caters to Las Vegas residents, and Boyd Gaming Corp. (BYD.N: Quote, Profile, Research)
Casinos in Washoe County in the northern part of the state reported a 3.2 percent decline in revenue, with Reno properties seeing a 3.5 percent drop in their gaming win to $60.3 million in March from a year earlier.
"This month the northern part of the state was affected by a record amount of snowfall," Streshley said. "There were numerous road closures with the main arteries coming over from California."
© Reuters 2006. All Rights Reserved.