Nevada Casinos Have Revenue Decline Again In June

The state of Nevada is not used to this kind of failure. Even with the economy sagging, Nevada casinos are supposed to persevere and come out in the positive with their revenue.

That has not been the case this year. For the first time in a long time, Nevada casinos are feeling the effects of a struggling economy just like other businesses around the country.

The figures for June have been released and Nevada casinos once again saw their revenue numbers decrease over the previous year. They closed the fiscal year for 2008 down 1.9 percent from the previous year. It still translated to a win of $12.5 billion.

While most of Nevada's casinos struggled it was easy for some to pinpoint why there has been a drop in revenue. "The soft economy definitely had an impact, along with record fuel prices," said Frank Streshley, a Gaming Control Board analyst.

The gas prices are having a major impact on Nevada casinos. The state does much of their business from tourists who are visiting the state. With fuel prices high, airfares have gone through the roof. That has left consumers without extra money to gamble away in casinos.

Many people are also losing their jobs in the tight economy. That has caused less vacations for people who were used to going to Las Vegas once of twice a year.

August 11, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
Submit News!