Nevada Gambling Revenue Down Across The Board

March 11th, 2010 – By Glen

Another month of declining revenue has struck Nevada, as January of 2010 showed a droop of 3.2% over the January 2009 figure. Only $883.3 in revenue had been collected compared to the previous years $912.7 million.

The year of 2010 was one filled with optimism, as the CityCenter had been completed, conference bookings had been made months in advance, and the economy had shown signs of stimulation. Unfortunately, Nevada did not recover as intended. Over the past twenty-three months, only one month had shown a positive result.

“Going into the month, we were expecting a bigger decline,” said Control Board Tax and License Division Chief, Frank Streshley. He had also said that January was a “very soft month.”

With USA Online Casinos continuing to show positive results, the land based casino business has been hurting. Operators of casinos in Vegas are still optimistic over the upcoming months, as the World Series of Poker and the summer months promise to show increasing tourism. Nevada currently receives almost one third of its general funds for the budget from the casinos in the state.

Other gambling locations in America have been suffering as well. Atlantic City has been all but crippled, and bankruptcy is the only route many of these casino locations can take. Atlantic now has too much competition from surrounding states.

Pennsylvania, on the other hand, has been flourishing. Their upcoming table games promise to show even higher revenue rates. Even Pennsylvania online casinos could face heavy competition from the land based businesses.

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