Nevada gambling:Downward trend continues
News on 12 Aug 2009
News on 12 Aug 2009
The gambling woes largely brought on by the global economic recession continued to plague Nevada through the month of June, according to the latest statistics released by the Gaming Control Board. The numbers show that land casinos in the gambling state suffered a decline of almost 14 percent in winning around $820 million from gamblers.
It is the smallest gambling win for the state in the last five years, reports Associated Press. June was the 18th straight month of decline.
The Board reported that for the fiscal year ended June 30th 2009, total gambling win was $10.8 billion, down almost 14 percent from the previous 12-month period.
June state taxes from gambling were $45.8 million, dropping 13.5 percent on taxes paid in June 2008.
“It’s a continuation of what we’ve seen,” said Frank Streshley of the Gaming Control Board. “We’re seeing less visitors and they’re spending a lot less than what they had been.”
The number of visitors to Las Vegas fell 6.3 percent in June, marking the sixth straight month of decline, according to the Las Vegas Convention and Visitors Authority. About 2.98 million visitors traveled to Las Vegas in June, compared with nearly 3.18 million a year earlier.
The monthly win for June 09 was down in every major market in the state, with the Las Vegas Strip operations down almost 15 percent. The Reno-Sparks-North Tahoe area was down more than 7 percent. It was the 24th straight month of declines in Washoe County, Streshley said.
Elsewhere, declines were 15 percent at South Lake Tahoe, 5.6 percent in downtown Las Vegas, 11.6 percent in Laughlin, and 15.6 percent in the Carson Valley area of Douglas County.
The June win was the amount left in casino coffers after gamblers wagered $11 billion in table games and slots.
There were declines in both types of gambling; slot wagering totaled $9.2 billion, down 10.7 percent, while the $1.8 billion wagered on table games was down 12.7 percent.
“It’s across the board,” Streshley said.
Nevada Governor Jim Gibbons called the latest casino numbers “troubling” but said no decision has been made on whether he will call state lawmakers into special session to address the revenue shortfall.
