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 5th 12 months running for a downturn in Nevada’s net revenues for fiscal 2013, according to the Gaming Control Board

It absolutely was bad news and sort of good news for the Silver State’s casinos when Nevada’s Gaming Control Board released their annual Gaming Abstract Report week that is late last. 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 contrasted to 2012.

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

Slow Recovery

It’s all part of the infant step recovery process from Nevada’s massive turndown from the country’s recession, which undoubtedly hit this area that is casino-centric since 2009. In reality, fiscal 2008 was the last time Nevada’s casinos general showed a net revenue, and that was for $721.1 million. The following year, the state took its hit that is biggest, with a $6.8 billion net loss for casinos statewide. Ouch.

The Las Vegas Strip naturally sets the pace when it comes to Nevada video gaming, and a small 1.7 percent revenue jump through the final fiscal year simply wasn’t enough to leave a revenue; overall, Strip casinos marked a $1.5 billion loss for the entire year. But once more, some silver lining here; Year Nevada Casinos Can’t Win for Losing for Fifth Straight 더보기