Major Nevada casinos lose us$ 1.2 billion in 2012
The loss was us$ 3.4 billion in 2010 and us$ 6.7 billion in 2009. “It’s getting better,” said Michael Lawton, senior research analyst for the board.
Total revenue collected by the 265 Nevada casinos that grossed us$ 1 million or more reached us$ 22.9 billion, up from us$ 22 billion in 2011. A total of 44 percent of revenue came from gaming, down from 46 percent in 2011, Lawton said.
Lawton noted that many states have casinos, and many people come to Nevada for other attractions. “The customer’s wallet has been divided in different ways and spread in other ways,” he said.
Revenue from rooms was up 8.7 percent; food increased 6.3 percent; and beverages grew 8.7 percent. The average daily room rate on the Las Vegas Strip was us$ 131, compared to us$ 128 in 2011, with an occupancy rate of 90.4 percent.
On the Las Vegas Strip, the net loss in 2012 for casinos on the Las Vegas Strip was us$ 1.7 billion, down from us$ 2.2 billion in fiscal 2011. It was the fourth year of losses. Downtown Las Vegas casinos had a net loss of us$ 46.1 million, down from a us$ 56.1 million loss the previous year.
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