Nevada Numbers Down

11/03/2008		Nevada Numbers Down
Home History Games News Dictionary		As the nation’s largest bailout bill was passed by both the House of Representatives and the Senate, the need has been felt across the country, and more so in places of pleasure like the State of Nevada, which enjoys the bulk of its tourism income from the profits of Las Vegas. Until the bailout can come into play strongly enough for middle class Americans to feel the run-offs, the numbers for casinos, resorts and other amusements in Las Vegas will continue to suffer. The most recent numbers from the Nevada Gaming Control Board reflect that the hurt to Vegas economy through land-based casinos is becoming drastic. Incomes are down significantly for the eighth straight month. Compared to last year, when August 2007’s numbers reflected gaming incomes at $1.016 billion, the drop has totaled 8.1%, down to $934.1 million. Just focusing on the Las Vegas Strip alone, and the casinos along side it, it’s been a 7.4% drop- down from $533.6 million to $494 million. Nevada State Gaming incomes have fallen a solid 6.8% when seen from the Year-to-Date vantage for the first 8 months of the year; this is the greatest loss since 1984. With the casinos and resorts feeling the economic decline so acutely, the government has not been lax in noticing their own loss; less profits for the Las Vegas translate to less money taxed by the state. August 2007 granted the state’s share of $58.2 million whereas this year’s August yielded only $54.6 million: a loss of 6.2%.

11/03/2008

Nevada Numbers Down

As the nation’s largest bailout bill was passed by both the House of Representatives and the Senate, the need has been felt across the country, and more so in places of pleasure like the State of Nevada, which enjoys the bulk of its tourism income from the profits of Las Vegas. Until the bailout can come into play strongly enough for middle class Americans to feel the run-offs, the numbers for casinos, resorts and other amusements in Las Vegas will continue to suffer.

The most recent numbers from the Nevada Gaming Control Board reflect that the hurt to Vegas economy through land-based casinos is becoming drastic. Incomes are down significantly for the eighth straight month. Compared to last year, when August 2007’s numbers reflected gaming incomes at $1.016 billion, the drop has totaled 8.1%, down to $934.1 million. Just focusing on the Las Vegas Strip alone, and the casinos along side it, it’s been a 7.4% drop- down from $533.6 million to $494 million.

Nevada State Gaming incomes have fallen a solid 6.8% when seen from the Year-to-Date vantage for the first 8 months of the year; this is the greatest loss since 1984. With the casinos and resorts feeling the economic decline so acutely, the government has not been lax in noticing their own loss; less profits for the Las Vegas translate to less money taxed by the state. August 2007 granted the state’s share of $58.2 million whereas this year’s August yielded only $54.6 million: a loss of 6.2%.