Despite Y2K Fears, New Year’s and Super Bowl Boost Nevada’s Casinos to Record

Y2K fears slowed Nevada’s tourist traffic at the start of the year--but casinos still had a record January win thanks to big-spending gamblers on New Year’s and Super Bowl weekends.

The statewide $866.5-million win, up 7.3% from January 1999, surpassed the previous record month of September, when casinos won $819.6 million, Frank Streshley of the state Gaming Control Board said Thursday.

Because of Y2K concerns, tourist counts were down as much as 10% from earlier projections. But January was still a good month on the Las Vegas Strip--which accounted for more than half the statewide total--and for Reno.

But the win was down for casinos in downtown Las Vegas and on Lake Tahoe’s south shore.

The “win” is what’s left in casino coffers after payouts to gamblers are subtracted from money that’s bet on tables, in slots and on sporting events. It’s a gross figure, with no operating costs or other expenses deducted. And it is casino revenue only--separate from hotel, restaurant or bar revenues generated by clubs.

The January figures bring the win so far this fiscal year to $5.53 billion, up 11.8% over the same period in fiscal 1998-99. The state’s percentage fees based on the win total $366 million for the fiscal year to date. That’s up 14.6% compared with the same period as of January 1999.