Nevada Casinos Down $1.3 Billion in 2013

Figures released this week show that Nevada casinos are reporting a collective net loss of just over $1.3 Billion for 2013. This means that 2013 is the fifth consecutive year that the Nevada Gaming Control Board have reported annual losses. The numbers break down showing that gambling contributed 45.1% ot total revenue while drinks, hotel bookings and food made up the other 54.9%. The total amount of revenue was just under $24 Billion and from that the larger casinos provided $804 Million in tax revenue, equating to 7.7% of gambling revenue. Slot machines yet again account for the larger figures with almost 65% of all gaming monies generated...a total of $10.3 Billion.

Nevada is home to 263 casinos that have an annual gross revenue of over $1 Million and they have not posted a profit since way back in 2008, and the losses are spread over the major casino areas with Downtown Las Vegas, The Las Vegas Strip, Laughlin and Tahoe casinos all showing a loss for the year. While the news comes as no surprise to many, there appears to be no finger pointing apart from the obvious recession fallout with people still being a little tighter on the purse strings. Online gambling figures have not yet been released and nor will they be for sometime, as they are separate and apart from land based numbers, however with Nevada only regulating 2 small online poker rooms, they would make little to no difference either way.