Nevada casinos: When even net revenue loss of USD 1.21 billion is good news

For some, a net loss of USD 1.21-billion would have meant a lot. However, for the gambling industry in Nevada, this net revenue loss was not so disheartening.

Compared to the previous slump of USD 4 billion in the previous fiscal, the figures have improved manifolds. The 2012 figures were released in the Annual Gaming Abstract, as provided by Gaming Control Board of the state.

This is the fourth year in running when the gambling industry in the state has suffered a net loss. This has come, in spite of the industry reporting close to 4.4 percent of increment in the overall revenue over a year period.

The abstract compares the income, which has been posted by casinos generating over USD 1 million in gambling revenues during the year that ended June 30, 2012.

There were 265 casinos, which received mentioning in the report. All of them together had a registered net loss of USD 1.2 billion on the overall revenue, which has been calculated out of the overall revenue of USD 22.9 billion. Comparatively in 2011, there were 256 casinos, which generated an overall revenue of USD 22 billion with a net loss of close to USD 4 billion.

The reported revenue included the money, which was spent by the customers at food, rooms, beverage and gaming as well as other attractions. The loss included the conventional expenses paid by the casinos, but excluded the federal income taxes as well as other extraordinary expenses.

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