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Nevada Casinos Lost $1.35 Billion In 2013

Nevada's largest casinos continued to struggle in 2013, as the combined group lost $1.35 billion last year. The net loss is the fifth straight year that the casinos have taken a hit.

While the hit is still quite large, it is an actual improvement on how the casinos fared in past years. The casinos brought in $23 billion in 2013, which is up $99.2 million (0.4%) when compared to what the spots brought in during 2012. Casinos on the Vegas Strip brought in $5.7 billion of gambling revenue, while the total revenues totaled $15.5 billion.

Commenting on the results Mike Lawton of the Nevada Gaming Control Board said, "It's a positive for the Strip. Revenues increased and the net loss decreased."

The entire state's large casinos brought in $10.4 billion, which was up 1.1%.

Casinos in Nevada have not posted a net profit since 2008, when the state's casinos brought in $721 million in net profits, just before the Great Recession kicked in.

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