Nevada Casino Revenue Down Almost Twenty Percent In February

The state of Nevada is heavily dependant on their casino gambling industry. If the numbers continue to drop like they have been, there could be serious financial implications.

That is why the news on Tuesday that casino revenue has dropped almost twenty percent in February has many in the industry worried. The current economy is severely harming what was a once proud industry.

A state report on Tuesday shows that casino winnings for February this year were $830.9 million. That figure is down 18.1% from the same month the previous year. It also was the fourteenth straight month of revenue decline.

"There's a material decline in spending," said Gaming Control Board analyst Frank Streshley, "We're still getting visitors, but the spending per visitor is down substantially."

The Las Vegas Strip, where much of the casino revenue for the state is derived from, was down 23.5% from last year's figures. Downtown Las Vegas was also down, although only 11.4%. Northern Nevada did not fare much better, having a revenue decrease of 23.4%.

The Las Vegas trend is similar to that of many states. Casino gambling has become more widespread around the US, but the economy is hindering casinos from reaching their potential.

April 7, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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