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

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

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

It had been bad news and sort of good news for the Silver State’s gambling enterprises when Nevada’s Gaming Control Board circulated their annual Gaming Abstract Report later the other day. The bad news was that Nevada’s 263 combined casinos experienced a fifth straight year of financial internet losses; nevertheless the good news is that their actual intake revenues increased a tad compared to 2012.

However, a web loss is a net loss, and fiscal 2013 was a little bit even 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 healing up process from Nevada’s massive turndown through the country’s recession, which absolutely hit this area that is casino-centric since 2009. In reality, fiscal 2008 had been the time that is last’s casinos general showed a net revenue, and that was for $721.1 million. The following year, hawaii took its hit that is biggest, by having a $6.8 billion internet loss for casinos statewide. Ouch.

The Las Vegas Strip naturally sets the speed in regards to Nevada video gaming, and a small 1.7 percent revenue jump during the last fiscal 12 months merely was not enough to go out of a profit; overall, Strip casinos marked a $1.5 billion loss for the season. But again, some […]