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Las Vegas Casinos Continue to Suffer Because of Weak Economy

On July 10th, 2008, casino facilities reported a $373.6 million win for the month of June 2008, an 11% decrease over the same period a year ago. Casino results given to the New Jersey Casino Control Commission shows that the eleven casino facilities won a total of $266.2 million at the slot machines and another $107.4 million at the casino table games in June. Slots profits were down by 12.2% while casino table revenues dropped by eight percent.

Casino establishments paid around $29.9 million in taxes on their gross revenues in June. That cash, eight percent of the gross revenues, goes directly to the Casino Revenue Fund, which funds programs that benefit senior citizen and disabled people. The casinos also incurred a total of $4.7 million in reinvestment obligations.

The casinos are required to reinvest around 1.25% of gross profits in projects approved by the Casino Reinvestment Development Authority. For the 1st 6 months of the year, casino facilities won a total of $2.3 billion, down by 6.1% from the same time in 2007.

Revenues from the slot machines slide down by eight percent and revenues from casino table games are down by 1.3% for the 6 months. Win or casino is profit, is the net amount of cash that won by casino establishments.


03 August 2008
News Submitted by:
Jessica Kellerman

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