LAS VEGAS-Las Vegas Strip gaming revenue was up 2.4% to $467million, according to the latest monthly figures from the NevadaGaming Control Board, but it dipped sharply in a number of othermarkets in what could be described as an up-and-down month for thestate's gaming business. And an analysis of those figures by CBRichard Ellis gaming industry specialists Jacob Oberman and BrentPirosch shows that same-store year-over-year declines are nowmoderating.

The Strip gaming revenue represented more than half of the $912million statewide take during the month, according to the GamingControl Board figures. Some of the ups and downs included increasesof 7.58% in North Lake Tahoe, 7.15% in South Lake Tahoe, 4.59% inReno and 2.27% in Laughlin, along with decreases of 11.75% in NorthLas Vegas, 10.62% Downtown, 9.21% in Sparks and 4.95% on theBoulder Strip.

The ups and downs show that Strip gaming revenue, although itincreased for the latest month, was down 2.7% in the trailing12-month period compared to the 12 months that preceded it,according to Oberman and Pirosch. Oberman and Pirosch estimatethat, on a same-store basis, strip gaming revenue decreased 4.2%year-over-year in March and increased 2.1% year-to-date. Excludingbaccarat and mini baccarat, the CBRE analysts estimate thatsame-store gaming revenue declined by 8% year-over-year in Marchand declined 9.4% year-to-date.