June 25, 2013 at 12:11 PM

First Quarter Casino Earnings Down

Santa Fe Area Market Shows Slight Increase

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The 2013 first quarter revenue sharing information for Indian gaming in New Mexico has been released and the numbers show an overall decrease from the same quarter in 2012 with only five of 14 tribes showing an increase.  

The numbers reflect the latest “net win” totals released by the State of New Mexico Gaming Control Board. The report shows gaming revenues in the first quarter of 2013 decreased by 1.4 percent over the same quarter in 2012. The total net win for January, February and March of 2013 totaled $192.1 million compared to $194.9 million for the same three months in 2012.

In the Santa Fe/Espanola corridor, the overall net win was up 1.1 percent with two of the four casinos showing improvement. The Pueblo of Pojoaque casinos (Buffalo Thunder, Cities of Gold) were up 3.5 percent. Ohkay Owingeh, which has been on a downward slide, showed a slight 0.4 percent increase. Tesuque Pueblo’s Camel Rock Casino was down less than one percent. Santa Clara was down almost 2.5 percent. 

Only Isleta, which earlier this month dropped the Hard Rock branding, showed an increase in the Albuquerque market. The Mescalero operations in southern New Mexico also had an increase. The largest percentage increase was Jicarilla in northern New Mexico, up 69 percent when compared to the same quarter in 2012.

 

Each gaming tribe reports their “net win” on a quarterly basis. The definition of “net win,” according to the Gaming Control Board, “is the amount wagered on gaming machines, less the amount paid out in cash and non-cash prizes won on the gaming machines, less State and Tribal Regulatory Fees.” Net win, according to the Gaming Board, “is not the net profit of the casino”.

Basically net win is the casino’s “hold” of each slot or poker machine, or the percentage of money they get for each dollar that is played through a machine. The State of New Mexico does not get any revenue from any of the other gaming activity at an Indian Casino, so any revenues generated through the black jack, craps, roulette, pai gow or poker tables, etc. goes to the tribe, as does bingo revenue. The state receives an average of a little over 9 percent of the net win, or about $17.4 million this most recent quarter.

Tribal Gaming Rankings by Net Win

Tribe / 1st Qtr Net Win 2013 / Name of Casino(s) / Compared to 1st Qtr, 2012

1. Pueblo of Sandia, $44,421,046, Sandia Casino, -3.9%

2. Pueblo of Laguna, $24,343,237, Dancing Eagle Casino, Route 66 Casino, -2.7%

3.  Pueblo of Isleta, $23,614,258, Hard Rock Hotel & Casino, Isleta Gaming Palace, +1%

4. Navajo Nation, $21,844,399, Fire Rock Navajo Casino, Flowing Water Casino, +1.52%

5.  Pueblo of Santa Ana, $18,622,830, Santa Ana Star Casino, -4.6%

6. Mescalero Apache Tribe, $16,272,846, Inn of the Mountain Gods Casino, Casino Apache Travel Center, +0.56%.

7. Pueblo of Pojoaque, $14,522,433, Buffalo Thunder Casino, Cities of Gold Casino, +3.5%

8. Pueblo of Santa Clara, $5,790,803, Santa Claran Hotel-Casino, -2.46%

9. Pueblo of Tesuque, $5,643,186, Camel Rock Casino, -0.72%

10. Pueblo of Acoma, $5,555,929, Sky City Casino, Even

11. Pueblo of San Felipe, $4,880,196, San Felipe Casino Hollywood, -2.74%

12. Ohkay Owingeh, $3,286,073, Ohkay Casino, +0.4%

13. Pueblo of Taos, $1,964,602, Taos Mountain Casino, -4.3%

14. Jicarilla Apache Tribe, $1,336,269, Apache Nugget Casino, +69%

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