Third Quarter Casino Earnings a Mixed Bag - December 26, 2012

"Two of the Four Santa Fe Area Gaming Tribes Show an Increase"

As a result of the new earnings from the new Navajo Nation casino in northwest New Mexico, Indian gaming revenues statewide are up in the third quarter of 2012 compared to the same period in 2011.  The four gaming tribes in the Santa Fe/Espanola area showed less than a one percent increase during these big warm weather months.

These numbers reflect the latest “net win” totals released by the State of New Mexico Gaming Control Board, which show gaming revenues in the third quarter of 2012 increased by 4.8 percent over the same quarter in 2011.

The total net win for July, August and September of 2012 came to $193 million compared to $184 million for the same three months in 2011. The biggest gain was posted by the Navajo Nation:  $7.9 million more than the same period one year ago due to their third casino that opened near Farmington in January 2012. 

In the crowded Santa Fe/Espanola corridor, two of the four gaming tribes showed increases. The Santa Claran Casino continued its upward trend and again showed the biggest percentage increase, up nearly 8.7 percent. The Pueblo of Pojoaque casinos (Buffalo Thunder, Cities of Gold) with 50 percent of market share in the corridor, were up a total of 1.7 percent. Tesuque Pueblo’s Camel Rock Casino showed the biggest drop at 4.4 percent and Ohkay was down less than one percentage point. Overall, the four gaming tribes showed an increase of less than one percent for the third quarter.

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 goes to the tribe, as does bingo revenue. The state receives about 9.25% of the net win, or about $17.8 million this most recent quarter.

Tribal Gaming Rankings by Net Win

Tribe / 3rd Qtr Net Win 2012 / Name of Casino(s) / Compared to 3rd Qtr, 2011

1. Pueblo of Sandia, $44,959,978, Sandia Casino, +0.69%

2. Pueblo of Laguna, $23,530,234, Dancing Eagle Casino, Route 66 Casino, +2.6%

3.  Pueblo of Isleta, $22,386,451 Hard Rock Hotel & Casino, Isleta Gaming Palace, +.74%

4. Mescalero Apache Tribe, $20,364,850, Inn of the Mountain Gods Casino, Casino Apache Travel Center, -6.7%.

5. Navajo Nation, $18,712,345, Fire Rock Navajo Casino, Flowing Water Casino, +72%

6.  Pueblo of Santa Ana, $18,126,934, Santa Ana Star Casino, +3%

7. Pueblo of Pojoaque, $15,144,101, Buffalo Thunder Casino, Sports Bar Casino, Cities of Gold Casino, +1.7%

8. Pueblo of Santa Clara, $6,053,333, Santa Claran Hotel-Casino (Big Rock), +8.7%

9. Pueblo of Tesuque, $5,669,799, Camel Rock Casino, -4.4%

10. Pueblo of Acoma, $5,535,814, Sky City Casino, +8.5%

11. Pueblo of San Felipe, $4,940,621, San Felipe Casino Hollywood, +0.56%

12. Ohkay Owingeh, $3,588,040, Ohkay Casino, -0.74%

13. Pueblo of Taos, $2,509,448, Taos Mountain Casino, +6.2%

14. Jicarilla Apache Tribe, $1,566,618, Apache Nugget Casino, +9%