Four Years of Losses for Nevada Casinos
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There are 265 casinos in the State of Nevada and for the fourth year running they are reporting a total loss but it is not all doom and gloom. Despite the net losses of $1.2billion there has been a larger increase in revenues and the losses are much less than previous years so it’s not all bad. In addition the net loss on the Vegas strip which is the largest concentrated area of the Nevada casinos is up. Consultants to the industry did not make any sweeping statements with regard to the losses but they have tried to explain them in other terms such as the general Americans wallet is tighter and has to cover more expenses with less available for leisure spending. Gaming consultants are confident that the decrease in losses will continue as will the popularity of the land based casinos.