\nBy HOWARD STUTZ
\n\tLAS VEGAS REVIEW-JOURNAL
\n\tBaccarat action helped boost Strip gaming revenues to a second-straight monthly double-digit increase during September, but analysts told investors not to read too much into the results.<\/p>\n
\tThe house again played lucky.<\/p>\n
\tFueled by a larger-than-average hold percentage in baccarat, casinos throughout Nevada collected $958.8 million from gamblers during September, a 7.4 percent increase compared with September 2012.<\/p>\n
\tThe Gaming Control Board reported the results Thursday.<\/p>\n
\tOn the Strip, gaming revenues increased 13.4 percent to $563.1 million.<\/p>\n
\tSeptember\u2019s results followed an 11.17 percent increase statewide in August, which included a nearly 20 percent increase on the Strip.<\/p>\n
\tBaccarat was the primary revenue provider. On the Strip, casinos collected $115.5 million from the game, an increase of 49.1 percent compared with September 2012. Betting on baccarat increased 7.6 percent to $734.9 million. Casinos held an abnormally high 15.72 percent of all wagers on baccarat, compared with 11.35 percent last year.<\/p>\n
\t\u201cWe view the headline as somewhat misleading, given the result was aided by luckier house play,\u201d Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski told investors. \u201cStrip baccarat volumes continue to prove resilient. The positive baccarat volume performance was offset by generally underwhelming slot volumes.\u201d<\/p>\n
\tGaming Control Board Senior Research Analyst Michael Lawton said the Strip\u2019s $66.3 million one-month revenue increase was the result of two games; baccarat (up $38.1 million from a year ago) and blackjack (up $28.7 million).<\/p>\n
\t\u201cSome of it was given back in other games, but baccarat is really driving the results,\u201d Lawton said.<\/p>\n
\tCasinos statewide also had a good month in sports wagering. A record $337 million was bet on college and professional football and the sports books held 8.92 percent of the wagers. However, the comparison to an abnormally high hold percent in September 2012 of 13.9 percent meant the actual revenues from football betting fell by $15.6 million.<\/p>\n
\tFor the first nine months of 2013, gaming revenues statewide are up 1.4 percent over 2012. Strip gaming revenues are up 3.3 percent.<\/p>\n
\tDuring September, Clark County as a whole saw an 8.74 percent increase in gaming revenues. The Strip\u2019s results were offset by losses in Laughlin, Mesquite, on the Boulder Strip and the balance of Clark County.<\/p>\n
\tHowever, downtown casinos experienced a 2 percent increase in gaming revenues while North Las Vegas casinos saw gaming revenues jump more than 14 percent.<\/p>\n
\tNorthern Nevada gaming revenue totals were mixed. Washoe County, which includes Reno, saw gaming revenues fall almost 4 percent. However, South Lake Tahoe\u2019s casino market saw gaming revenues increase 23.2 percent.<\/p>\n
\tGaming taxes collected in October based on September\u2019s revenue were $62.9 million, a decline of 11.5 percent. For the first four months of the fiscal year, gaming tax collections are down down almost 3.4 percent.<\/p>\n
\tThis is a developing story. Please check back for updates.<\/p>\n
\tContact reporter Howard Stutz at hstutz@reviewjournal.com<\/a> or 702-477-3871. Follow @howardstutz on Twitter.<\/p>\n