Nevada revenue plunge in February

The latest statistics from the Nevada Gaming Control Board do not make for happy reading; gambling revenues plunged 14 percent in February, with the Las Vegas Strip revenues diving 20 percent.

The Silver State’s land casinos won $926 million in February, down from more than $1 billion in the same period last year. The decline was most keenly felt in Las Vegas, where revenues on the Strip tumbled over 30 percent year-on-year to $556 million.

Bringing some cheer to a generally gloomy picture, Downtown Las Vegas operations recorded a 3 percent rise in revenues to $43 million.

Reno casinos recorded negligible revenue increases at just less than 1 percent to $44 million, while South Lake Tahoe casino winnings dropped almost 10 percent to $15 million.

Nevada’s state government coffers collected almost $59 million in taxes on the February gambling revenue – down about 5 percent from the same time a year ago.

Related and similar