Nevada’s Biggest Casinos Continue To Lose BigJanuary 14, 2014
Major casinos in Nevada showed a total loss of $1.35 billion for the fiscal year ended June 30, 2013, marking the fifth consecutive year of losses, according to the Nevada Gaming Control Board.
The Gaming Board’s annual Nevada Gaming Abstract analyzes all casinos in the state that gross over $1 million in gaming revenue annually. In fiscal 2013, Nevada had 263 casinos with gross gaming revenues of $1 million or more.
The $1.35 billion total shortfall compares to a loss of $1.2 billion in fiscal 2012. On a somewhat brighter note, fiscal 2013’s total revenues were a $23.1 billion, slightly higher than the $23 billion recorded in fiscal 2012.
The “total revenue” figures include all money spent by customers on gaming, rooms, food, beverage, and other attractions. Of the fiscal 2013 total revenue figure of $23.1 billion, gaming revenue accounted for $10.4 billion, or 45.1% of that total.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.