A Wynn-Win For Vegas

The opening of Wynn Las Vegas last April contributed to an 8.8 percent increase in cash pocketed by Nevada casinos from gamblers last fiscal year, for a total of $11 billion.

Casinos also won $954.2 million from gamblers in June – an 11.7 percent gain from the same month in 2004. What’s especially heartening is the gaming industry’s showing shortly after the opening of Vegas’ newest megaresort.

“June is historically a pretty quiet month,” said Frank Streshley, a research analyst with the state Gaming Control Board. “The opening of Wynn in April is still growing the market, which is a good sign. It’s not cannibalizing the market. The demand for Las Vegas has gone through the roof.”

June marked Nevada’s 11th consecutive monthly record for winnings, according to Streshley.

“Win” is a gross figure, with no operating costs or other expenses deducted. And it’s casino revenue only – separate from entertainment, hotel, restaurant or bar revenues generated by the resorts, including concert revenues.

The June “win” was the amount left in casino coffers after gamblers wagered $12.5 billion, including $10.6 billion on slots and $1.9 billion on table games.