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Nevada Casino Revenue Steady

Nevada casino revenue dipped slightly in April but is holding sturdy for the initial 10 months from the fiscal year.

The Nevada Gaming Control Board reported today that revenue was $854.2 million, down 0.16 percent compared to precisely the same month of a year ago.

For the fiscal year, tax collections totaled $621.two million, up three.two percent from the preceding year and $2.three million more than projected by state budget analysts.

Revenue in April 2012 was up 6.two % from 2011, so “it was a challenging comp,” said Michael Lawton, senior analysis analyst for the board.

Las Vegas Strip casinos reported income, before taxes and expenses, of $448.five million, down two.3 % in comparison with the identical month in 2012 when winnings have been up 7.4 %.

There was also 1 less Sunday in April compared to a year ago.

Lawton said for the initial 10 months in the fiscal year, gaming revenue was up 2.four percent statewide and 5 percent on the Las Vegas Strip, which does more than half the state’s gaming business.

“For the fiscal year, we’re sitting fairly superior,” Lawton stated.

Downtown Las Vegas casinos reported a 6.9 percent decline in revenue, and North Las Vegas was off 11.4 percent. Mesquite fell 4.7 %, but the other places in Clark County all showed increases.

Laughlin had an 11.4 % raise; the Boulder Strip was up five.7 % and the remainder of Clark County rose two %.

For the second straight month, Washoe County casinos posted a strong win, with revenue up ten percent. Lawton stated this was as a consequence of the significant men’s and women’s bowling tournaments being held there.

South Lake Tahoe posted a 14.eight percent obtain in income; Carson Valley was down two.six percent, and Elko County fell three.8 %.

 
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