Las Vegas casino report slow winnings in 2007

| Published on August 20, 2007

Casino bosses in Nevada, the home state of Las Vegas, have reported that their winnings have slowed down slightly in 2007, though overall revenues remain strong. For the tax year up to June 2007, the stateâ€™s casinos won $12.7 billion from gamblers, an increase of 4.6 per cent on the previous yearâ€™s figures.

In June alone, Nevada venues won $959.8 million from their visitors, though this was driven largely by the successes of Las Vegas casinos, which helped to compensate for slower winnings experienced elsewhere, not least in Clark County.

While these new figures are not as high as some operators may have wished, no major new venue has been opened within the state during the fiscal year.

Observers expect both revenues and winnings to pick up significantly once the $1.6 billion Palazzo casino opens in Las Vegas on December 20th.

â€œWhat we were seeing in the first half of the calendar year is that things have really slowed down, definitely on the slot side,â€ said Frank Streshley, the senior research analyst on the Nevada Gaming Board.

â€œI think weâ€™ll see this trend continue over the next six months as well.â€

However, he added: â€œWith no major special events on the calendar and factor in the Stardust closing, this was an exceptionally strong month.â€

Via: Blog gambling.com

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