At the end of last week the Nevada State Gaming Control Board released its “NEVADA GAMING ABSTRACT – 2011.” The ABSTRACT is a report of combined financial information regarding Nevada gaming licensees grossing $1 million or more in gaming revenue during the fiscal year ended June 30, 2011. In FY 2011, 69 casinos owned by public companies accounted for 78.2% of the total gaming revenue generated statewide during the fiscal year.
During FY 2011, there were 256 casinos in Nevada, which grossed $1 million or more in gaming revenue. Together, these casinos generated a net loss of $3,996,656,422 from total revenues of $22,012,064,316. These results are mixed compared to FY10 when the net loss was $3,432,514,103 and total revenues were $20,853,560,968. “Total revenue” is the money spent by patrons on gaming, rooms, food, beverage, and other attractions.
“Net income/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 accounted for $10,168,621,415, or 46.2% of total revenue. These 256 casinos paid $792,393,450 in gaming taxes and fees, equating to 7.8% of their gaming revenue.
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On a county-by-county basis, Clark County had 148 casinos grossing $1 million or more in gaming revenue during FY 2011, which generated a combined net loss of $3,993,003,055 from total revenues of $19,488,973,899. Washoe County had 30 casinos, which reported a combined net loss of $44,535,145 from total revenues of $1,423,594,684. Elko County had 19 casinos with $44,972,363 in combined net income. South Shore Lake Tahoe in Douglas County with 4 licensees reported a net loss of $24,686,366. Carson Valley Area with 15 casinos generated net income of $533,355. The balance of the state had 40 casinos earning $20,062,426 in combined net income. (E-01.10.12)
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