Gaming revenue for the Carson City and Carson Valley areas for fiscal year 2010 were among the state's best considering overall statewide declines, according data released today by the Nevada Gaming Control Board.
Gaming Revenue for the Carson City and Carson Valley area was down 4.3 percent for fiscal year 2010 over 2009 figures. The Las Vegas strip reported the best revenue figures, down 3.1 percent, according to the control board.
The Nevada Gaming Abstract for 2010 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, 2010.
The report shows 13 Carson area casinos had a net loss of $435,875 for the fiscal year, taking in a total revenue of $146,168,500. The percentage change of revenue to net income loss came in 4.3 percent according to the Gaming Control Board (See attached PDF.)
South Shore casinos at Lake Tahoe, meanwhile, show a 15.3 percent decline in gaming revenue over 2009 figures. Total revenue for South Shore came in at $366,362,708. The Douglas County casinos at Stateline with five licensees reported a net loss of $90,381,128, according to the report.
During FY 2010, there were 256 casinos in Nevada, which grossed $1 million or more in gaming revenue. Together, these casinos generated net loss of $3,432,514,103 from total revenues of $20,853,560,968, according to the report. These results compare favorably to FY09 when the net loss was $6,778,293,613 and total revenues were $22,011,364,912.
“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 $9,906,558,446, or 47.5 percent of total revenue. These 256 casinos paid $777,648,073 in gaming taxes and fees, equating to 7.8 percent of their gaming revenue.
On a county-by-county basis, Clark County had 148 casinos grossing $1 million or more in gaming revenue during FY 2010, which generated a combined net loss of $3,362,651,595 from total revenues of $18,244,846,700.
Washoe County had 31 casinos, which reported a combined net loss of $27,513,712 from total revenues of $1,492,637,757. Elko County had 18 casinos with $37,023,257 in combined net income.
The balance of the state had 41 casinos earning $11,444,950 in combined net income, the report states. In FY 2010, 68 casinos owned by public companies accounted for 76.2 percent of the total gaming revenue generated statewide during the fiscal year.
In addition to providing combined balance sheets and income statements, the Gaming Abstract includes data concerning average number of employees, rate of room occupancy, revenue earned per room per day, gaming revenue earned per square foot of gaming floor space, and various ratios. Data is also combined into totals representative of casinos statewide with rooms and casinos statewide owned by publicly held corporations.
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| Gaming Abstract2010.pdf | 67.05 KB |