Casino News

Nevada gaming revenue continues to slide

2009-04-08 12:31:27

Casino revenues in Nevada fell again during February, according to new figures from the local Gaming Control Board.

The organisation revealed an 18 per cent decline in takings to $839.5 million for the month - the lowest total for five years, the Las Vegas Review-Journal reports.

Las Vegas was hit particularly badly by the economic downturn, with revenues along the Strip down by 23 per cent overall to reach another five-year low.

Frank Streshley, senior research analyst at the control board, claimed that the results were better than anticipated and said that February having 29 days in 2008 contributed to the steep year-on-year drop.

"By all means, this wasn't a good month, but it was actually better than we expected," he remarked.

Nevada is the number one gaming destination in the US and competes with the Chinese administrative district of Macau as the world's richest casino location.

Both places have been hit hard by the global economic crisis in recent months.