Nevada Gambling Revenue Dips In April

June 11th, 2010 – by Glen Farmer

The gambling haven that is Nevada has been faced with a financial situation that is a rocky outcrop of revenue. In negotiating this outcrop, the state’s casinos have been faced with a series decline in revenue.

In April of 2010, the gambling win, or how much the casino had taken in from players, was $810.5 million. This represents a 5.6 percent drop in revenue over all from April of 2009. Taxes collected amounted to $39.7 million, or a 23.4 percent dip compared to the same month in the previous year.

Though the gambling win had remained on a down swing, the Las Vegas Strip had been faced with the smallest drop. A 1 percent drop to $437 million had been witnessed. The strip did take a larger percentage of the gambling revenue statewide, however, bringing in 54 percent of Nevada’s overall gambling revenue compared to the 51.3 percent dominance in April of 2009.

The entire fiscal year has been on a downswing for Nevada’s gambling revenue. A solid 4 percent drop had been witnessed through the first ten months of this fiscal year. The Strip has remained on a slight increase of half of a percent.

Despite the opening of the ARIA Casino in Las Vegas’s CityCenter, a project that was presumed to rescue the ailing gambling economy in Las Vegas, Las Vegas continues to remain in dire straits. Though not as wounded as Atlantic City, in terms of revenue declines, Las Vegas is still in a tight spot, financially speaking.

Many casino operators in Las Vegas have been debating the idea and possibility of legalized and regulated Nevada Online Gambling. The different casino operators in the state would be those licensed to allow the online casinos to operate. Online poker has already been established by some of the big names in the industry, despite not operating in the United States. Harrah’s is one such poker site.

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