Modest Recovery Continues to Show in Gaming
Nevada’s casino industry posted its third straight annual gaming revenue increase in 2012 as the industry continues its modest recovery amid a sluggish economy.
Analysts noted the results were helped by high-end baccarat play, the game that has bolstered the industry’s bottom line since Las Vegas companies began doing business in Macau in 2004.
Statewide, casinos collected $10.86 billion in gaming revenue in 2012, a 1.5 percent increase over $10.7 billion in 2011.
“We are slowly increasing revenues,” said Michael Lawton, senior research analyst for the Nevada Gaming Control Board. “We are still 15.5 percent below the peak in 2007, but we are gradually moving in the right direction.”
Nevada gaming revenues were $12.8 billion in 2007, Lawton said. On the Strip, gaming revenues increased 2.3 percent over 2011 with casinos collecting $6.2 billion, marking a second straight year revenues topped $6 billion.
