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

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

The Las vegas, nevada Strip naturally sets the pace in regards to Nevada video gaming, and a small 1.7 percent revenue jump throughout the last year that is fiscal wasn’t sufficient to leave a profit; overall, Strip casinos marked a $1.5 billion loss for the entire year. But once again, some silver lining here; that Read more →