Nevada’s Main Casinos Made over 1 Billion Dollars Loss in 2012

Nevada’s Main Casinos Made over 1 Billion Dollars Loss in 2012Nevada’s Gaming Control Board recently released its Gaming Abstract. The Gaming Abstract, which is compiled yearly looks at the financial situation of the state’s casinos which have a casino income of a million or more dollars for the previous fiscal year ending in June. In 2012 there were 265 Nevada casinos within this range. While this is the fourth year showing losses in the state’s main casinos, there is also a major improvement when compared to the casino losses in the previous year.
All of the casinos grossing over a million dollars  posted a combined loss of 1.2 billion dollars in 2012. However this compares quite well to the combined loss of 3.9 billion dollars recorded in 2011. Again the 2012 loss can be favourably compared to a loss of 3.4 billion dollars in 2010 and to 6.7 billion dollars the year before that.While there is a loss of 1.2 billion dollars there is at the same time an increase of almost 4.5 per cent in the total casino income for 2012. In general the gaming industry in Nevada is slowly coming out of recession and the total revenue from gaming increased by over 900 million dollars last year. After three years when total income from gaming was down, this increase is the second one over the past two years. In 2011 the total revenue from the major casinos in the state was 22 billion dollars while in 2012 this income reached 22.9 billion dollars.The total revenue from the major casinos includes income from gaming and also hotel rooms, drinks, food, shopping, entertainment and other attractions that bring clients into the casinos and casino resorts. Out of the total revenue of 22.9 billion dollars, this year had the lowest ever percentage of income from gaming. At only just over 10 billion dollars income frolasm gaming was just under 45 per cent of the total casino revenue.

This has been the trend for many years as the main casino resorts offer more and more attractions besides gaming to encourage players to spend greater amounts. Just as the state wide losses are down, the net loss in casinos on the Las Vegas Strip was down when compared to the loss in 2011, last year it was 1.7 billion dollars compared to 2.2 billion in 2011.

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