Nevada Breaks Losing Streak

The Nevada Gaming Control Board was pleased to announce that the state’s gaming revenue had rebounded after two tough months. Their February and March numbers were down, which left many concerned that this could be the start of a disturbing trend, however, April’s slot machine and gambling revenue figures show that they have turned it around.

Statewide the casinos won more than $1.05 billion, which is a jump of 6.4% from the previous year. Last year, same time, they had brought in $989.9 million, according to the Board.

Analysts were surprised for a couple of reasons. Firstly, this was the first time that they had won more than $1 billion in the month of April, and last year they had gone up 13% so it would have been tough under the best of circumstances to do better. Plus, weekends are the time when the casinos bring in the most money, and April had one less weekend then it did last year. They did not expect to fare nearly as well as last April.

Some think that the amount might be a misappropriation of funds for the month of March. As slot machine revenue is not usually collected over the weekend, it is usually counted on Mondays; the last weekend in March might be getting counted toward April, when it should be March. Analysts say that they will have to look at the numbers and see if this is what happened, because it might show that March did better than previously reported.

March was down in its numbers by less than 1%, with casinos bringing in $1.054 billion. With April being uncharacteristically high, many think that this will explain it if the funds are found to be credited to the wrong month. Analysts say that March has probably been underestimated, and April overestimated.



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