Gaming Revenues in Nevada fall by Biggest Annual Percentage Ever
In Nevada gaming revenues fell by 10.4% in 2009, which is the biggest drop in the history of the state. Throughout the state casinos made $10.39 billion from gaming revenue in 2009 and that was the lowest total since back in 2003. However, in the latter half of the year the decline was not so bad.
According to Control Board Tax and License Division Chief Frank Streshley Nevada gaming revenues in the first 6 months of 2009 were down 13.4% as compared with the same period in 2008. In the last 6 months of 2009 the drop was only 7.2% compared to the year before. Streshley recently stated, “I guess you can say we improved in the second half of the year. In reality, that stretch between October 2008 and March of last year was a horrendous period for the industry.”
The most recent drop follows a trend with the economic slump, as 2009 saw a 9.7% increase from 2008. The Nevada Gaming Control Board has been keeping records of casino revenues since back in 1956 and the only repeat in dropping revenues from year to year were in the past 10 years.
The Strip saw a big drop, as their revenues in 2009 were $5.5 billion, which is a drop of 9.4%. Clark County, which is the county that Las Vegas is located, fell 9.8% to $8.8 billion.
North Las Vegas actually saw an increase in revenue last year and the main reason was the opening of the impressive Aliante Station in November 2008. North Las Vegas was the only part of Clark County that saw a revenue increase last year. The Casinos in North Las Vegas reported gaming revenue of $286.2 million, which is a 1.2% increase over the totals from 2008.
In looking at the main games of the casinos slots saw the biggest drop in revenues from the previous year of 10.8% while table games fell 4%.
Every county in Nevada had a drop in revenue, but what is their loss can be your game. If you look all around Nevada, especially in Las Vegas, you can find killer deals on hotels and package vacations. If you go to Las Vegas and visit the Strip on down times of the year you can find really good bargains and you gambling money can go a lot further. Take some time to research some deals online and you will be surprised how much money you can save.
