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Nevada casinos loss registered for fifth fiscal year in a row

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Nevada casinos are apparently not thriving any longer. At least not according to the Las Vegas Review-Journal via the Nevada Gaming Commission on Jan 10.

This source reveals that for the fifth straight fiscal year in a row the Silver State's former cash cows are not producing winning numbers in the form of earnings.

Gambling figures released by the Gaming Control Board in their annual Gaming Abstract report says that Nevada casinos "generated a net loss of $1.384 billion" in the fiscal year for 2013. This compares to the numbers from 2012 which say that casinos in this gambling mecca lost $1.212 billion.

To say that's a huge amount of money is an understatement. On a happier side, the Las Vega Strip's overall revenues were up 1.7 percent from the previous year even though this Nevada hot spot's net loss was down 13 percent from 2012 at 1.7 billion.

By way of background, the Silver State's gaming palaces have not been in the black since 2008's fiscal year when the numbers added up to $721.1 million. Then 2009 came along and boom, the loss was create at nearly $6.8 billion.

Nevada operates 263 casinos with the 150 Clark County casinos grossing a million dollars or more in gaming and a combined net loss during fiscal year 2013 of $1.337 million. Washoe County has 32 casinos and earned less than three quarter of a million dollars among them with $1.387 in total revenues for the same year.

And so, as Nevada casinos experience loss as registered for the fifth fiscal year in a row, gamblers and the places that afford this opportunity will need to be more aggressive in the fiscal year of 2014 for better results. Good luck.



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