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Year Nevada Casinos Can’t Win for Losing for Fifth Straight

Year Nevada Casinos Can’t Win for Losing for Fifth Straight

It was the year that is fifth for a downturn in Nevada’s web revenues for fiscal 2013, based on the Gaming Control Board

It absolutely was bad news and kind of good news for the Silver State’s gambling enterprises when Nevada’s Gaming Control Board circulated their annual Gaming Abstract Report late last week. The bad news was that Nevada’s 263 combined casinos experienced a fifth straight 12 months of economic internet losses; however the good news is that their actual intake revenues increased a tad contrasted to 2012.

However, a web loss is a net loss, and fiscal 2013 was a little bit worse than 2012, having a final tally of minus $1.348 billion,compared to $1.212 billion in 2012.

Slow Recovery

It is all the main baby step recovery process from Nevada’s massive turndown through the nation’s recession, which definitely hit this area that is casino-centric since 2009. In fact, fiscal 2008 had been the time that is last’s casinos overall showed a web revenue, and that was for $721.1 million. The following year, the state took its biggest hit, with a $6.8 billion internet loss for casinos statewide. Ouch.

The Las Vegas Strip naturally sets the rate when it comes to Nevada video gaming, and a small 1.7 percent revenue jump through the final fiscal year merely wasn’t enough to go out of a profit; overall, Strip casinos marked a $1.5 billion loss for the year. But once again, some silver lining here; that loss e Continue reading Year Nevada Casinos Can’t Win for Losing for Fifth Straight