Nevada Numbers Down for Eighth Month
October 10, 2008 (InfoPowa News) — It appears that the economic crunch continues to deter gamblers from the expense of trips to land casinos, with the latest numbers from the Nevada Gaming Control Board indicating declining gaming revenues for the eighth straight month.
The figures relate to August 2008 and show that, across the gambling state, gaming revenues were $934.1 million, an 8.1 percent decline compared with the $1.016 billion recorded for August a year ago. Looking specifically at the Las Vegas Strip, gaming revenues were $494 million, a 7.4 percent decline compared with $533.6 million for the same period a year back.
The year-to-date numbers for the first eight months of the year show Nevada state gaming revenues down 6.8 percent, the largest decline since the state started keeping records in 1984. The same period on the Strip shows a 6.6 decline in gaming revenues compared with YTD 2007 statistics.
The falling revenues have inevitably led to reduced tax harvests for the authorities. The state collected $54.6 million based the monthly revenue totals, a decrease of 6.2 percent compared with $58.2 million collected in August 2007.
Gaming revenues fell throughout Clark County in August, which reported a 9.4 percent decline. Downtown casinos saw gaming revenues fall 9.5 percent, gaming revenues on the Boulder Highway were down 22.4 percent, and gaming revenues in North Las Vegas were off 17.8 percent.