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 net revenues for fiscal 2013, according to the Gaming Control Board

It had been bad news and kind of good news for the Silver State’s casinos when Nevada’s Gaming Control Board released their annual Gaming Abstract Report later the other day. The bad news was that Nevada’s 263 combined casinos experienced a fifth straight 12 months of financial web losses; but 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 worse than 2012, with a final tally of minus $1.348 billion,compared to $1.212 billion in 2012.

Sluggish Recovery

It’s all the main child step healing up process from Nevada’s massive turndown from the country’s recession, which positively hit this area that is casino-centric since 2009. In fact, fiscal 2008 was the final time Nevada’s casinos overall showed a web revenue, and that was for $721.1 million. The following year, hawaii took its biggest hit, having a $6.8 billion web loss for casinos statewide. Ouch.

The Las vegas, nevada Strip naturally sets the pace with regards to Nevada gaming, and a small 1.7 % revenue jump through the last year that is fiscal wasn’t enough to leave a revenue; overall, Strip casinos marked a $1.5 billion loss for the season. But once more, some silver lining here; that loss ended up being still 13 per […]