Nevada casino revenue increases despite losses

The Nevada Gaming Control Board has announced that casinos operating in the US state were able to achieve a year-on-year increase in revenue during the 12 months through to June 30, 2015, despite having suffered losses in the period.

Nevada’s 271 casinos posted total revenue of $24.6 billion (€22.6 billion) in the 12-month period, up from the $23.9 billion recorded in the previous year.

Although net loss came in at $661.8 million for the period, this represented a drop on the loss of $473.7 million posted in the previous 12 months.

Despite revenue having increased in the 12-month period, it is still short of the pre-recession peak of $25.3 billion posted in 2007.

Of the total revenue for the 12 months to June 30, just 43.2% came from gaming activities, with the majority of this generated by casinos on the Las Vegas Strip.

State-wide gaming revenue fell 0.2% year-on-year, while Strip gaming dropped by 2.5%

Related article: Nevada returns to revenue growth in November