Report says Nevada casino profits plunged in 2009

Nevada casino profits plunge in 2009

CARSON CITY, Nev. — A new report shows Nevada’s major casinos posted a net loss of $6.8 billion in fiscal year 2009, more than a 1000 percent plunge from the $721 million earned in the prior year.

The annual “Gaming Abstract” released Friday by the state Gaming Control Board tracks casinos statewide that gross $1 million or more in gambling revenue.

The 260 casinos included in this year’s report had total revenue of $22 billion. Of that, nearly half was from gambling revenue.

In Clark County, 149 casinos had a combined net loss of $6.5 billion.

Thirty-two casinos in northern Nevada’s Washoe County had a combined net loss of $47.4 million.

Statewide, the casinos paid $778.7 million in state gambling taxes and fees, representing 7.4 percent of their gambling revenue.