Nevada Casino Gambling Revenue Finally Rebounds With Profit

The state of Nevada relies heavily on their casino gambling industry. That is one reason the state has been struggling mightily with their budget since the casinos started to see declining revenue over a year and a half ago.

Now, for the first time in a long time, Nevada officials can smile after monthly revenue reports have been released. Nevada casinos had an increase of 4.4% in revenue for the month of November, compared to the same period the year before.

The total revenue for Nevada casinos was $873.2 million in November of 2009. That is almost $40 million higher than the $836.8 million in revenue that the casinos had in November of 2008. It has some believing that economic relief is right around the corner.

“This is good news for Nevada, and particularly, Las Vegas casinos,” said Gaming Analyst Steve Schwartz, “It is a stepping stone for what the state hopes are brighter days. It still, however, may take another full year before casinos in Nevada get back to enjoying revenue figures they were used to before the recession.”

One growing problem for Las Vegas is the emergence of Macau as the leading casino gambling destination in the world. Macau is drawing many of the customers from Asia that used to travel to Las Vegas to do their casino gambling.’

Las Vegas is hoping that the recently opened CityCenter, from MGM Mirage, will help bring customers back to the city. The project was a joint effort by MGM and Dubai World, and has opened in stages leading into 2010.