Nevada Casinos Lose $1.3 Billion in 2013

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Associated Press
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Nevada Casinos Lose $1.3 Billion in 2013

CARSON CITY, Nev. (Associated Press) — Nevada’s largest casinos suffered a combined net loss of $1.35 billion in 2013, marking the fifth year of losses since the onset of the Great Recession.

The annual “Gaming Abstract” released Friday by the state Gaming Control Board looks at the total revenues of casinos that gross more than $1 million in gambling revenue.

While total revenues of $23 billion were up slightly from 2012, so were the losses.

Total revenue is the money spent by patrons on gambling, rooms, food, beverage and entertainment.

The report notes revenue from gambling totaled $10.4 billion, accounting for 45 percent of the total.

The 262 casinos includes in the report paid $804 million in gambling taxes and fees.

The last time Nevada’s biggest casinos posted a net profit was 2008.

Business/Financial News

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