Nevada Casinos Report Revenues Increases
Casino bosses in Nevada have good reason to celebrate this month, after it was revealed that revenues in November had actually climbed when compared with 2008’s figures. Nevada based casinos collected an estimated $873.2 million from punters last November, marking a 4% rise in year-on-year revenue. No doubt such news will be welcome to both the gambling and hospitality industry in other states, as this is the first time casinos in the Silver State have achieved a year-on-year profit increase in the past 22 months.
Robert LaFleur, of the Susquehanna Financial Group, suggested that the profit growth is down to high levels of baccarat play, particularly in casinos such as the Wynn, Bellagio and Venetian. Other casinos, such as the MGM Mirage are also said to have benefited from this increase in card-game activity. However, critics have noted that the revenue increase accounts for all the casinos in Nevada, when in actual fact some gambling venues, such as those in Downtown Las Vegas, are still struggling.
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