Many Americans have cut their discretionary income and gambling in Las Vegas for the last four months of 2008. April 2008 Nevada casino revenues were $55.1 million, a decline of 3.5 percent from year to date figures.
Gaming taxes collected by the state were decreased 4 percent for the first 11 months at $707.8 million. More than half of last year’s gaming tax collections declined from the previous year’s figures.
The hotel casinos in Nevada raked in over $1 billion. Can you believe that is a 5.05 percent decrease of April 2007?
Not since the terror attacks has the gaming revenue seen such declines. For the past five years April was the third-largest single-month decline in Nevada gaming revenues.
Total gaming revenues for casinos on the Las Vegas Strip totaled $524.1 million, or a slight 1.28 percent decline year to date.
Clark County gaming revenues declined 4.8 percent. Gaming revenues fell 12.2 percent on the Boulder Strip, 22.4 percent in North Las Vegas and a big decline of 34.6 percent in Mesquite.
From January – April of 2008, gaming revenues have declined 2.4 percent on the Strip and 3.8 percent within all of Nevada. Source: Review Journal
Nevada gaming revenue down and casinos don’t hear cha ching bells.