Nevada Casinos Shows Winnings Increase For First Time In 23 Months

Casino News - January 21st, 2010 - Written By Glen

Nevada's casinos, like those found in many other states, have been suffering due to the recession. While not the worst off in the nation, the casinos in Nevada have still been dealt a blow by lower recreational spending. The reports for the year, however, released early in January, had shown promise. November had, reportedly, been the best month, and the final figures show one large positive mark next to the casinos winning take.

For the first time in almost two years, Nevada casinos on a whole had shown an increase in the winnings they had earned in the casinos. State regulators announced on Tuesday that Nevada's casinos had shown a 4 percent rise in winning in November of 2009. Almost $873.2 million had been earned from gamblers.

Two primary reasons have been cited for the increase. According to the Associated Press, baccarat had played a pivotal role in the larger earnings in Nevada. The Pacquiao-Miguel Cotto bout had also helped to increase the win percentage, as money earned from misplaced bets had given bookies a large take.

Some authorities are under the impression that Nevada is set to recover from the recession, and the figures from 2009 are beginning to show some promise. Though relief was isolated for much of the year, new developments have made Nevada hopeful. Higher booking reservations, as well as MGM's CityCenter, may increase the overall revenue generated by casinos across the board. Nevada online casinos, however, continue to tear untaxed profits away from the state's privately owned casinos.