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Reflecting foreigners’ insatiable appetite for merchandise of Las
Vegas-style entertainment, exports of casino goods made in Nevada in June
jumped 15.9 percent compared with May.
The latest snapshot of Nevada’s key exporting industry brought monthly
foreign sales of casino goods to $31.6 million, the highest level on record.
Compared with a year ago, the state’s exporters shipped to international
markets $20 million, or an astonishing 170 percent more locally produced
casino goods than in June 2003.
June’s export performance reflected trends in international demand for major
export groups of casino merchandise. Coin and token game goods, the engine
of casino foreign sales and an important generator of local jobs, made up 97
percent of all casino state exports.
In June, foreign shipments of coin- or token-operated game machines from
local factories increased $4.1 million from May to $30.7 million, a 15.5
percent jump, as overseas casino companies stepped up purchases of new
technologies and expanded operations.
Exports of non coin or token operated gaming goods -- which also include
playing cards, video games used with TV and billiards totaled $800,000 in
June, nearly unchanged from May.
A better picture in foreign sales of casino goods emerges by removing
from the trade statistics the seasonal effects — a statistical technique
used in reporting the official U.S. exports and all key national indicators
— which eliminates the influences of weather, holidays, and other recurring
monthly events. |
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After adjusting Nevada’s monthly
trade statistics for seasonality, June’s picture on export performance was
solid as the original numbers indicated.
Adjusted for seasonality, June’s exports of casino goods from Nevada’s
companies increased 9.8 percent from the previous month. At the national
level, exports of casino goods, seasonally adjusted, declined 8.8
percent in June to $121.5 million from May, led by declines in merchandise
of coin or token operated game machines and video games used with TV.
How well have Nevada’s exporting companies in the casino-goods producing
industries penetrated the international markets this year? In the first six
months of 2004, foreign shipments of casino goods for the nation as a whole
totaled $635 million, $24 million or 4 percent more than the same period in
2003.
So far this year, Nevada exporters sold $145 million of casino merchandise,
16.6 percent more than in the first half of 2003.
Nevada ranks No. 1 among the states in foreign sales of casino-related
merchandise. Nevada’s foreign sales are about one-fourth of all U.S. exports
of casino goods.
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Evangelos Otto Simos, chief economist at the consulting and research firm Infometrica Inc., is editor for International Affairs in the Journal of Business Forecasting and professor
and chair of the Economics department at the University of New Hampshire.
Simos can be reached at: eosimos@infometrica.com
Copyright © 2004 The Reno Gazette-Journal
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