Nevada gaming tax revenue falls 8 percent in August

9 October 2008

NEVADA -- Nevada casinos suffered through their eighth straight monthly gaming revenue decline in August.

Statewide, gaming revenues were $934.1 million, an 8.1 percent decline compared with $1.016 billion for August a year ago. On the Strip, gaming revenues were $494 million, a 7.4 percent decline compared with $533.6 million a year ago.

The Gaming Control Board released the monthly revenue figures this morning.

For the first eight months of 2008, gaming revenues are down 6.8 percent, the largest decline since the state has been keeping records since 1984. On the Strip, gaming revenues are down 6.6 percent compared with the first eight months of 2007.

The August gaming revenues also impacted the monthly gaming tax collections. The state collected $54.6 million based the monthly revenue totals, a decrease of 6.2 percent compared with $58.2 million collected in the same period last year.

Gaming revenues fell throughout Clark County in August, which reported a 9.4 percent decline. Downtown casinos saw gaming revenues fall 9.5 percent, gaming revenues on the Boulder Highway were down 22.4 percent and gaming revenues in North Las Vegas were off 17.8 percent.

Casinos in Mesquite won $10.8 million during the month, a 2 percent increase and the only location in Clark County that showed an increase over August 2007.

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