Nevada casinos continue to be less reliant on gaming

Nevada casinos continue to be less reliant on gaming

Friday, January 8, 2016 Totally Gaming
Turnover was up while losses reduced in 2015

Nevada’s casino industry saw its highest turnover in seven years during 2015, according to figures released by the state’s Gaming Control Board (GCB).

Some $24.6bn (€22.6bn) was recorded as income by the 271 casinos in Nevada, which represented a 2.9 per cent increase on the $23.9bn reported in 2014. However, figure is still lower than the pre-recession $25.3bn turnover peak generated in 2007, and the $25.0 recorded in 2008.

Gaming income was $10.6bn, which is down 0.2 per cent on the figure from 2014. Gaming therefore made up 43.2 per cent of the total, which was well down on the 45.1 per cent of 2014.

"It's the same trend we've been seeing where gaming revenue is not driving the overall figure," GCB senior research analyst Michael Lawton said.

Despite the increase in turnover, Nevada casinos continued to make a net loss, although the $661.8m was 11 per cent less than 2014.

The last time Nevada casinos recorded a net profit was in fiscal 2008 — $721.1 million. The largest net loss came in 2009 when casinos lost almost $6.8 billion.

David Schwartz, director of the University of Nevada, Las Vegas, Center for Gaming Research, told the Associated Press news agency: “It’s a sign of the changing market. Food is growing and gaming as a percentage is shrinking. What I’m hearing from people is they spend more on food and entertainment than gambling. This is what the visitors seem to want.”

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