Nevada casinos losing revenue
Posted by Carl Barnett on 09 Jan 2010 at 15:01
Nevada faces tough times ahead with its casino industry, which has seen a massive drop in revenue for the last 21 months.
Over that period, revenue going into Nevada casinos dropped at an alarming rate.
The Nevada Gaming Control Board released figures concerning the matter this week, and these figures showed that revenue for casinos had dropped by nine per cent compared to the same time last year.
Nevada and Atlantic City used to be the top two venues for gambling in the country, but revenues are dropping quickly, with some of the revenue floating off to states nearby.
New Jersey, in particular, has seen an increase in profit.
September revenues for Nevada’s casinos were a worse than expected $911 million.
The taxes that Nevada collected from the casinos showed an even bigger decline, with the just over $50 million in taxes five per cent less than the same time last year.
This may have something to do with online gambling, which has seen an increase in its customer base in the last few months.
