Nevada Casino Gambling Revenue Down In September

The state of Nevada is reliant on their casino gambling industry to the point that Senator Harry Reid is opposing changes in US law regarding online gambling to protect his states' casinos. On Tuesday, there was more evidence as to why those casinos needed to be protected.

For the twenty-first straight month, revenue dropped at Nevada casinos in September. The Nevada Gaming Control Board released the figures on Tuesday, and the revenue at the casinos was down nine percent from the same period in 2008.

The decrease in revenue is a trend that both Nevada and Atlantic City casinos are experiencing. The two casino destinations used to be the top in the country, but there is now increased competition from surrounding states of Nevada and New Jersey.

The September revenue for Nevada casinos was $911 million. The state's collected taxes from the revenue had even a bigger drop off. The state collected $54.3 million in September, an almost fifteen percent decrease from September of 2008.

Gamblers have cut back on the amount of spending they have been doing since the recession started. The casino industry has been among the hardest hit by the economic conditions of the past couple of years.

In Nevada, casinos account for around thirty percent of the state income. The decrease in revenue at these casinos have put a clamp on government spending. Nevada is hoping that MGM's CityCenter project will help bring tourists back to the state and help jump start the local economy.

November 10, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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