Economy Wreaks Havoc on Nevada Revenue

12 February 2009

For the 2008 fiscal year, Nevada saw a 13.95 percent year-over-year decline in gaming win, according to the Nevada Gaming Control Board.

In December alone, the year-over-year gaming win plummeted by 18.94 percent with $887 million. In December 2007, gaming win for the state was just more than $1 billion.

The Las Vegas Strip saw a 15 percent decline for the year, bringing in $2.9 billion -- down from $3.4 billion in 2007.

According to the Las Vegas Review-Journal, 2008 proved to be the worst decline for the state’s gaming revenues on record.

“The economy has had a much more devastating impact than anything we’ve ever experienced,” Frank Streshley, a senior research analyst with the Nevada Gaming Control Board told the Review-Journal.

The Board’s results also showed a steep 22.6 percent year-over-year statewide drop in collected percentage fees.