14% Drop In Nevada Gambling Revenues for February
The Nevada Gaming Control Board announced that they have had a loss in gambling revenues for the month of February in the state. The board noted that for the month of February, their revenues dropped by 14%.
The total revenue earned last year in February was $1 Billion Dollars and this year they were only able to earn $926 Million in tax revenues. The Las Vegas Strip was only able to bring in $556 Million of the total $926 Million, this a 30% decrease compared to last year for the strip.
Downtown Las Vegas was able to have a positive month as they went up by 3% in total revenues earned. In total downtown Las Vegas was able to bring in $43 Million. The Reno owned casinos brought in $44 million of the total revenues earned, allowing for them to have an increase of 1%.
Lake Tahoe, one of the less known gambling hubs located in Nevada was only able to bring in a total of $15 Million. This is a decrease of 10% when you compare their total revenues for February in 2013.
Tax revenues and total revenues are two separate things, the State of Nevada was only able to bring in $59 Million in tax revenues from land based and online based casinos. This is a drop of 5% for tax revenues, this will effect certain programs that the State of Nevada offers.
There is no information pertaining towards how much money the state of Nevada was able to bring in for the month of March, that information will be released near the end of April.