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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 had been the fifth 12 months running for a downturn in Nevada’s net 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 casinos when Nevada’s Gaming Control Board circulated their annual Gaming Abstract Report later a week ago. 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 compared to 2012.

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

Slow Recovery

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

The vegas Strip naturally sets the rate when considering to Nevada gaming, and a small 1.7 % revenue jump throughout the last year that is fiscal wasn’t enough to go out of a profit; overall, Strip casinos marked a $1.5 billion loss for the year. But again, some silver lining here; that loss was still 13 perce Continue reading “Year Nevada Casinos Can’t Win for Losing for Fifth Straight”