Gaming revenues drop 14.1 percent in April

Nevada gaming revenues suffered a nearly 14.1 percent drop in April, the seventh straight month of double digit declines as the casino industry suffers through a recession that has curtailed both visitation and consumer spending.

The Gaming Control Board released the April figures this morning.

Statewide, gaming revenues were $859.4 million during the month, compared with $1 billion in April 2008. In the first four months of 2009, casino revenues statewide are down more than 14 percent.

On the Strip, gaming revenues were $441.3 million in April, a decline of 15.8 percent compared with $524.1 million casinos earned a year ago. Revenues are down on the Strip almost 16 percent for the year.

Only two areas of Clark County reported revenue increases compared with a year ago, due in the most part of the openings of new hotel-casinos.

North Las Vegas gaming revenues were up 5.4 percent because of the opening last November of Aliante Station. Revenues from Boulder Strip area, which also covers casinos in Henderson, climbed 2.3 percent, due to the August opening of the Eastside Cannery and the March opening of M Resort.

Gaming taxes based on the April casino revenues fell 5.9 percent to $51.8 million, the lowest monthly decline of the current fiscal year. However, gaming tax collections in the fiscal year are down 14.6 percent.

Source: LAS VEGAS REVIEW-JOURNAL

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