The Gaming Control Board has announced the release of the 2010 Nevada Gaming Abstract. As of 8AM 1/31, the report isn’t up on the GCB’s site, but here’s the press release:
The State Gaming Control Board has released its “NEVADA GAMING ABSTRACT – 2010.” The ABSTRACT is a report of combined financial information regarding Nevada gaming licensees grossing $1 million or more in gaming revenue during the fiscal year ended June 30, 2010 (FY 2010).
During FY 2010, there were 256 casinos in Nevada, which grossed $1 million or more in gaming revenue. Together, these casinos generated net loss of $3,432,514,103 from total revenues of $20,853,560,968. These results compare favorably to FY09 when the net loss was $6,778,293,613 and total revenues were $22,011,364,912. “Total revenue” is the money spent by patrons on gaming, rooms, food, beverage, and other attractions. “Net income/loss” is the money retained by casinos after expenses have been paid but prior to deducting federal income taxes and prior to accounting for extraordinary expenses. Gaming revenue accounted for $9,906,558,446, or 47.5% of total revenue. These 256 casinos paid $777,648,073 in gaming taxes and fees, equating to 7.8% of their gaming revenue.
On a county-by-county basis, Clark County had 148 casinos grossing $1 million or more in gaming revenue during FY 2010, which generated a combined net loss of $3,362,651,595 from total revenues of $18,244,846,700. Washoe County had 31 casinos, which reported a combined net loss of $27,513,712 from total revenues of $1,492,637,757. Elko County had 18 casinos with $37,023,257 in combined net income. South Shore Lake Tahoe in Douglas County with 5 licensees reported a net loss of $90,381,128. Carson Valley Area with 13 casinos generated a net loss of $435,875. The balance of the state had 41 casinos earning $11,444,950 in combined net income.
In FY 2010, 68 casinos owned by public companies accounted for 76.2% of the total gaming revenue generated statewide during the fiscal year.In addition to providing combined balance sheets and income statements, the GAMING ABSTRACT includes data concerning average number of employees, rate of room occupancy, revenue earned per room per day, gaming revenue earned per square foot of gaming floor space, and various ratios. Data is also combined into totals representative of casinos statewide with rooms and casinos statewide owned by publicly held corporations.
Just a reminder–this info is for the fiscal year, which ran July 2009 to June 2010. I’m expecting the calendar year numbers to look better–at least for some reporting areas.
I’m going to be incorporating the new data into the Nevada jurisdictional summaries and several reports over the next few weeks.