LAS VEGAS-The gambling win edges up both statewide and on the Las Vegas Strip in the latest monthly tally by the Nevada Gaming Control Board, but not all gambling establishments are participating in the recovery, according to an analysis by CB Richard Ellis gaming industry specialists. The monthly take for September increased 0.73% statewide to $917.8 million and rose 2.8% to $520.5 million on the Las Vegas Strip, according to the control board figures, which compare this year's September figures to those of September 2009.

CB Richard Ellis gaming industry analysts Jacob Oberman and Brent Pirosch, in their monthly analysis of the figures, report that although there are positives to point to in the market―namely baccarat and the performance of luxury properties―the September numbers "confirm our thesis from last month that the recovery has not been felt by most non-luxury properties." In addition, the CBRE analysts point out, "Casinos open at this time last year likely experienced gaming revenue declines during September, particularly for those properties without a meaningful contribution from baccarat."

Oberman and Pirosh note that in addition to being up 2.8% in September, Las Vegas Strip gaming revenue is up 4.3% year-to-date, and up 3.5% in the trailing 12-month period compared to the 12 months that preceded it. Besides their analysis of the monthly figures, the CBRE analysts also provided an analysis of how Strip casinos have performed on a year-over-year basis during the first three quarters of 2010. In the third quarter, gaming revenue at Strip casinos grew by 7.7%. "We estimate same-store revenue only increased about 0.2% in 3Q10. Excluding baccarat, we estimate that same-stores likely experienced 3%-4% declines during the quarter," Oberman and Pirosch say in their report.

According to the gaming control board, the monthly year-to-year results for gambling revenue varied widely on a percentage basis for the 20 different markets listed in its monthly report. The results ranged from a 10.8% increase to $8.9 million in the Carson Valley market to an 8.56% decrease in the Mesquite market. On a fiscal-year basis, with the fiscal year beginning July 1, the board reported that gaming take has increased 2.33% statewide.