2010 losses for Nevada's biggest gambling companies topped $3.3 billion

Nevada's Gaming Control Board has reported another dismal year of losses for the state's gambling interests, with extensive write-downs and weak revenues in the latest fiscal year ending June 30, 2010.

Reporting on the results, the Dow Jones news agency commented that Nevada's biggest casinos lost $3.4 billion over the period, halving a year-earlier loss as operators wrote down the value of their assets by about $3.5 billion less than they did in the previous fiscal year.

During fiscal 2009, the state's biggest casino operators lost almost $6.8 billion, the report notes.

The state regulator said that almost $4.5 billion in cuts had been made by the beleaguered gambling industry as it sought to mitigate serious revenue declines between 2008 and 2009.

Source: InfoPowa News