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Nevada Sees Revenues Rise In April

The state of Nevada saw its April gambling revenues rise 6.2% over the same period in 2011 to $855.7 million, a positive sign for the struggling gambling industry.

The Nevada Gaming Control Board reported that revenues on the Vegas Strip rose by 7.5% to $459.4 million, with baccarat and slot machine showing the largest increases in revenue.

Downtown Las Vegas generated $49 million in revenues, which is up 25% over the same period last year.

Outside of Sin City, Reno's casinos brought in $38 million, down 19% from the same period last year. South Lake Tahoe also saw a dip for the month, bringing in $14 million, down 4% from April 2011.

For the month, the NGCB reported that Nevada received $49 million in taxes for April; up 14% over the same period last year.

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usbarbadosslim93
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13 June 2012 - 5:33pm
#1

Not to sound like I want Vegas to fail, but do you think that the chances of seeing online gambling grow as a market are harmed by people going to gambling destinations and spending money?

I mean if I were running a casino I would be thinking that if land revenues are rising that I would be taking a look at possibly seeing what impact online gambling would have on my resort business. Maybe it would be better for them to launch an online casino when the revenues are really in the pit.

I don't know though... what do you think?

auCL-Ed
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15 June 2012 - 2:42am
#2

No I think the markets are complimentary. Excluding the folks that live there, people go to Vegas to gamble. But they also go for a holiday, to see some the place at night, to see some shows, and stay in an amazing hotel. The gambling pays for all the other stuff, so if I was a casino I would want to give my customers the opportunity to continue to gamble when they are back home and not on holiday.

And don't forget that over the past 2 or 3 years their revenues have been in the pits compared to previous years.

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