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August 22, 2014

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Nevada’s biggest casinos lose $1.3 billion in 2013

Image

Steve Marcus

A view of the Las Vegas Strip taken from a helicopter May 21, 2012.

Updated Friday, Jan. 10, 2014 | 1:05 p.m.

CARSON CITY — Nevada’s major casinos reported a net loss of $1.35 billion in 2013, the fifth straight year of losses.

The state Gaming Control Board released its Nevada Gaming Abstract today, detailing figures from the industry that show gambling accounted for 45.1 percent of total revenues.

Food, hotel rooms, drinks and other attractions make up the majority of revenues.

The casinos reported $23.9 billion in total revenues, or a 0.4 percent gain from fiscal 2012. The net loss was 11.2 percent more than last year.

The state’s 263 casinos that gross at least $1 million in gaming revenues have not reported a profit since 2008, Lawton said.

The big casinos paid $804 million in state taxes and fees, or 7.7 percent of their gaming revenues.

Statewide, slot machines accounted for 64.9 percent of the gaming win of $10.3 billion. Table games produced 31.7 percent of gaming revenues.

Casinos on the Las Vegas Strip produced $15.5 billion in total revenues, with 37 percent coming from gaming. The net loss on the Strip was $1.4 billion, or 13 percent less than 2012.

Downtown Las Vegas casinos reported a net loss of $17.8 million, but that was 61 percent lower than 2012.

Laughlin casinos, meanwhile, posted $13 million in net income, a gain of 288.9 percent. Net income at Boulder Highway casinos was 35.6 percent to $44.2 million and casinos in the rest of Clark County had a net income of $120 million, down 100.7 percent from 2012.

The report showed casinos in Washoe County had a net income of $719,429 in 2013, a decrease of 100 percent from the previous year.

South Lake Tahoe casinos posted a $90.2 million net loss. But Carson Valley casinos had a net income of $7 million.

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