Nevada Casinos See Sixth-Straight FY Net LossPoker Revenue Down From Fiscal Year 2013 |
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Nevada’s top grossing gaming establishments saw fiscal year 2014 trump fiscal year 2013, but it was the sixth-straight fiscal year containing a net loss for the Silver State casino industry.
The most recent fiscal year ended June 30.
According to an abstract from state gaming regulators, the 270 casinos in Nevada that grossed $1 million or more in gaming revenue generated a net loss of $743,688,008 from total revenues of $23,895,954,169.
Those results are an improvement compared to FY 2013 when the net loss was $1,348,992,937 and total revenues were $23,075,800,492. Nevada is slowly recovering from the Great Recession.
For clarification: “Total revenue” is the money spent by casino-hotel patrons on gaming, rooms, food, beverage, and other attractions. “Net income” (in this case a loss) is the money retained by casinos after expenses have been paid but prior to deducting federal income taxes and prior to accounting for “extraordinary expenses.”
Gaming revenue during FY 2014 was $10.6 billion, or 44.5 percent of total revenue.
Revenue from poker during this period was $144.1 million, which was 1.4 percent of overall gaming revenue. Poker was $152.7 million during FY 2013, or 1.5 percent of total casino win during the period. The poker revenue figure factors in online and live play.
Nearly $98 million of the FY 2014 poker revenue was taken in on the Strip.
Eighty three casinos statewide offered poker during FY 2014, down from 91 in FY 2013.
The numbers for poker during calendar year 2014 won’t be available for several weeks.
Here’s a look at the abstract:
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