Nevada casino profits 'disappointing'
10th April, 2008
The US state of Nevada saw a four per cent year-on-year fall in casino profits this February, despite an extra Leap Year day and numerous other positive factors.
As well as having an additional 29th day of the month, February saw a seasonal surge in tourist activity due to the Superbowl, Chinese New Year celebrations and the President's Day holiday.
It also witnessed the reopening of the Monte Carlo casino hotel resort in Las Vegas, previously closed due to a fire.
In spite of these positive influences, however, casino gambling takings fell by four per cent when compared to February 2007, with clubs yeilding a net profit of $1.01 billion (£500 million).
"We were disappointed but we can't say it was unexpected," commented Gaming Control Board analyst Frank Streshley. "It's definitely a reflection of the soft economy and people tightening up their spending habits."
The lower-than-expected figures echo a similarly-disappointing January, when year-on-year takings fell by five per cent.
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