Nevada Casinos Falling Further Into The Hole Financially

The state of Nevada is highly reliant on their casino gambling revenue. That has been good news for the past two decades, but as of late it is providing nothing but bad results.

The state released the revenue figures from November earlier this week, and it looks as though state casinos are in for a long dry period. The revenue numbers from November dropped fifteen percent from the same period the year before.

More important than the individual monthly figure is the overall performance. The decline in November marked the eleventh straight month that casino gambling revenue has decreased in the state.

The majority of the casino owners are blaming the economy for the decreasing numbers. The stock market crash also has a lot to do with the overall performance of the casinos. The decline is not isolated in Nevada.

The Nevada Gaming Control Board, which released the revenue figures, noted that revenue is down almost everywhere in the US. When Nevada revenue drops, however, people tend to pay more attention given that the state is known for their gaming dominance.

The figures in November dropped over $150 million from 2007 to 2008. taxes that come from the casino wins fell even further. they were down twenty seven percent, to $44.4 million in 2008.

January 11, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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