Recession Continues To Hurt Nevada Casinos

According to the Nevada State Gaming Control Board, casino winnings are still dropping for the third straight year.

For the fiscal year ending this past June, casino profits fell another 4.3 percent in Nevada as a whole and winnings were down 7.6 percent on the Las Vegas Strip.

The casino business, once thought to be recession-proof, continues to suffer from coast to coast as the country is mired in one of the worst economic downturns in the history of the United State of America.

From month to month, financial numbers are dropping more and more. In fact, in Nevada casinos won almost $764 million in this past June, down $54.4 million from the same month a year ago.

When comparing June of 2008 to June of 2009, winnings fell nearly 14 percent.

Only the Carson Valley area and South Lake Tahoe saw revenue increases from June of 2009 to same period in 2010.

Carson Valley saw a 5 percent increase in casino winnings, while in South Lake Tahoe casinos profits from the floor were up 13.5 percent.