Nevada casino revenue down yet again!

January 12th, 2011

Last year, the hope returned for casinos in Nevada after August, September and October were all profitable months for the casinos after two years of negative revenue. Now it appears however, those hopes were short-lived, in November the hard reality came back and casinos saw another drop in revenue in November.

In recent years, it is not been good for casinos in Las Vegas, last year the revenue seemed to improve slightly, but in November the first earnings decline since three months has been reported. Revenue for the casino gambling state fell to $822 million, a decrease of 5.9 percent as compared to same period in 2009. It does not indicate that there is less gambling in the casinos of Nevada. More than 10 billion dollars was bet on table games and slot machines in Nevada in November. Only $2.2 billion of that amount was spent at the tables, an difference of approximately $171.1 million as compared to 2009. Gamblers also spent less on slot machines, with $8.5 billion wagered, which was $286 million less than what went through the slots in 2009.

US-based analysts blame a combination of factors, but the most popular reason is the luck of the player. In November, players had the advantage against the house. It is very likely that the figures for December show that players in that month were less fortunate than in November. Analysts think that 2011 will be a start for the reintegration of the gaming industry in the U.S., many states are amending their laws to allow online gambling. The revenues from this will be so much that most states could close the financial gap created by the financial crisis.