Nevada Gambling Revenue Falls For Third Consecutive Year

August 13th, 2010 – by Glen Farmer

The Nevada Gaming Control Board has recently announced that the gambling win through the gambling centers in the state have continued a decline over the month of June. The decrease that occurred in June has also set a record – three consecutive years of a declining gambling revenue.

According to reports, the monthly gambling win for the casinos dropped more than 6 percent in June. Only $763.8 million had been collected in June. The problem is further compounded by the fact that last year’s figure was a decline from the previous year.

For the year so far, Nevada’s gambling revenue has reached $5.1 billion. This is just over 1 percent less than the first six months of 2009. While the dip is not too severe, Nevada relies on gambling revenue to make up roughly one third of the state’s general fund.

The Las Vegas Strip suffered the most in the decline. The gambling revenue from only the casinos on the strip experienced a 7.6 percent slip. The revenue intake dropped to $382.9 million from June of last year.

A large amount of revenue for the first six months came from sportsbooks in the state, despite opposition from USA online sportsbooks. The 2010 World Series of Poker also helped to bring money into the state.

While Nevada’s gaming revenue has been on the decline, they have not fallen as short as Atlantic City. Both states have had to deal with new competition, but Atlantic City has taken a severe blow partially due to Pennsylvania’s burgeoning gambling scene.

Regulated online gambling is being considered by many gaming companies as an alternative source of revenue, which could be further infused into the state’s general fund.

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