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Nevada's biggest casinos lose $1.35B in 2013
Fox News / AP ^ | January 10, 2014 | Sandra Chereb

Posted on 01/11/2014 1:43:43 AM PST by Zakeet

Nevada's largest casinos, still climbing out of the recession, suffered a combined net loss of $1.35 billion in 2013, marking the fifth straight year without an overall profit, state regulators reported Friday.

[Snip]

While the casinos' losses grew by 11.2 percent or $136 million, a control board analyst said much of that was tied to increased expenses.

(Excerpt) Read more at myfoxdc.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: Nevada
KEYWORDS: economy; gambling; losses; nevada

Obamanomics is doing to my state what it's doing to the country.

1 posted on 01/11/2014 1:43:44 AM PST by Zakeet
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To: Zakeet

I remember Obama telling Americans not to go to Vegas.


2 posted on 01/11/2014 1:59:15 AM PST by hadaclueonce (Because Brawndo's got electrolytes. Because Ethanol has Big Corn Lobby)
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To: Zakeet

Efff’ casinos.


3 posted on 01/11/2014 2:06:02 AM PST by Bullish (America should yank Obama like a rotten tooth before he poisons the entire body)
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To: hadaclueonce
Not only that but the Unions pushed the Hotel employees to vote Obama.
So here we go with another lesson not learned about Vote consequences.
Battered wife syndrome. Somehow it's also Bush's fault.
4 posted on 01/11/2014 2:11:27 AM PST by MaxMax (Pay Attention and you'll be pissed off too! FIRE BOEHNER, NOW!)
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To: Zakeet
....meanwhile....the Indian tribes in North Dakota are building a $400 Million oil refinery and expanding their Buffalo herds on their land.
5 posted on 01/11/2014 2:13:29 AM PST by spokeshave (OMG.......Schadenfreude overload is not covered under Obamacare :-()
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To: Bullish

How do you lose money in casinos?

I’ve run some numbers and sports cards in my day

Only lost on big upset days when I had failed to lay off enough

I think the mega hotel business model is the issue

Most of Vegas today is for drunk kids teaming up in rooms to party...for big timers

There are so many other better serious gambling venues


6 posted on 01/11/2014 2:29:17 AM PST by wardaddy (wifey instructed me today to grow chapter president beard back again....i wonder why?)
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To: Zakeet

A friend of mine in Northern Michigan who frequented three or four different nativehyphenamerican casinos because he hit frequently in the range of 1 to 5 hundred dollars has stopped going. His complaint is that they’ve tightened the slots up, whatever that means, and one doesn’t hit very often. He has observed that there were lots less people in the casinos recently than several years ago. I asked him if it coincided with the immaculation of maobama and he avoided answering the question. His wife is a rabid leftist who accompanied him on these gambling outings. She isn’t happy either.


7 posted on 01/11/2014 2:31:21 AM PST by RushLake (Nothing can bring you peace but the triumph of principles. (Emerson))
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To: Zakeet

Between increased competition from other states, the growth of poker rooms and legalized Internet gambling people are running out of reasons to go to either Las Vegas or Atlantic City. It would happen without a recession, unions or nitwit politicians but those three things are just speeding up the process.


8 posted on 01/11/2014 3:29:58 AM PST by Oshkalaboomboom
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To: Oshkalaboomboom

Good old Harry Reid will come up with a loss compensation plan and bail them out. The demodummies seem to be very good at that.


9 posted on 01/11/2014 4:18:49 AM PST by DaveA37
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To: Oshkalaboomboom

They will soon look to expanding other newly legal entertainments. Pot will be the new riverboat gambling for the states.


10 posted on 01/11/2014 4:39:31 AM PST by PghBaldy (12/14 - 930am -rampage begins... 12/15 - 1030am - Obama's advance team scouts photo-op locations.)
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To: Bullish

Good accountants make sure they never turn a profit. Same for Hollywood films. Some of the biggest films seem to take forever to be profitable so stars with percentage of profit contracts don’t get paid. Cant say I feel sorry for any of them though.


11 posted on 01/11/2014 4:39:38 AM PST by Lawgvr1955 (Sic Semper Tyrannis)
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To: Zakeet
Let's see, an Increase in the Social Security Tax in 2013. And for me, an Increase in Health Insurance premiums. That and higher airfares, I decided not to go.

This year, Thanks to Obama, Reid, Pelosi and the Socialistically Progressive Democrats, a much higher Health Insurance Premium and had to make a whopping Health Savings Account to cover the new massive deductibles (no more nice co-pays for us anymore).

Gee, Harry Reid, I can't AFFORD to Think About it.

12 posted on 01/11/2014 4:42:28 AM PST by sr4402
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To: Zakeet
What's wrong with Las Veags:

It's Harry Reid's vote producing machine. Why support it?

They have a disgusting marketing campaign “What happens here, stays here”. Creepy.

Prostitution is practically in your face.

Besides the restaurants and natural beauty, it's kind of a nightmare.

13 posted on 01/11/2014 4:46:46 AM PST by Vision (Tune out, drop back)
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To: Lawgvr1955

The old saying was the most creative writing in Hollywood is done by accountants. Of course the agents know all this and know you never go for points on the gross but always the net.


14 posted on 01/11/2014 4:50:10 AM PST by xp38
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To: RushLake

He is correct. We last went in 2011 and in both 2010 and 2011 the slots were so tight we decided to never go back. We had gone every year since 1999.


15 posted on 01/11/2014 4:58:12 AM PST by Lumper20
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To: Zakeet
Obamacare is starting to work. Disposable income is being destroyed.
16 posted on 01/11/2014 5:54:11 AM PST by vetvetdoug
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To: hadaclueonce
I remember Obama telling Americans not to go to Vegas.

Clark County, where Las Vegas is located, is the only county in Nevada that he carried, but it was enough to give him the state, which was reliably Republican from 1968 through 2004.

17 posted on 01/11/2014 5:55:07 AM PST by Fiji Hill
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To: Zakeet

In unrelated news, some Nevada medical facilities have noticed a significant increase in the number of persons seeking treatment for crushed kneecaps and sprained elbows.

[/s]


18 posted on 01/11/2014 6:02:03 AM PST by TomGuy
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To: Zakeet

Injuns takum scalp.


19 posted on 01/11/2014 6:02:32 AM PST by onedoug
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To: Zakeet
.


First question ...

Is Nevada the electorial base of the corrupt bastard Senator Harry Reid ?

Answer: yes



No further questions needed.




.
20 posted on 01/11/2014 6:11:10 AM PST by Patton@Bastogne (Swine Piss be upon the Sodmite Obama, and his Child-Rapist False Prophet Mohammed)
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To: Oshkalaboomboom
people are running out of reasons to go to LasVegas or Atlantic City

Those big casino operators in Las Vegas get profits from the proliferation of casinos all over the country, so they aren't the ones losing out. As these destination casinos get seedier and less desirable, it's people who liked the resort environment that are losing that vacation destination.

21 posted on 01/11/2014 6:29:38 AM PST by grania
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To: Zakeet

Just in NEV a week ago...and the smaller casinos seem to be OK...but there is noticeably less traffic on the Vegas Strip. Some of the neighborhoods near there are pretty much boarded up


22 posted on 01/11/2014 6:31:44 AM PST by SeminoleCounty (Amnesty And Not Ending ObamaCare Will Kill GOP In 2014)
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To: Fiji Hill

NO, he carried Clark and Washoe (Reno), the two biggest Counties in Nevada.


23 posted on 01/11/2014 6:49:12 AM PST by Las Vegas Ron ("Medicine is the keystone in the arch of socialism" Vladimir Lenin)
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To: Fiji Hill

Meant to add, those were the only two counties that were blue, the rest of the state is solid red!


24 posted on 01/11/2014 6:51:44 AM PST by Las Vegas Ron ("Medicine is the keystone in the arch of socialism" Vladimir Lenin)
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To: Vision
I've been to the Black Rock Desert in NV.



Not a prostitute in sight!
25 posted on 01/11/2014 7:09:12 AM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; me = independent conservative)
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To: Fiji Hill

It’s amazing how one county in the State can trump all the rest.


26 posted on 01/11/2014 7:10:26 AM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; me = independent conservative)
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To: Las Vegas Ron

Okay, so two counties trumped the other 14 in NV. That’s still amazing.


27 posted on 01/11/2014 7:13:41 AM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; me = independent conservative)
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To: Zakeet

"And they still paid millions to re-elect me, those losers."

28 posted on 01/11/2014 7:18:14 AM PST by OrangeHoof (2001-2008: "Dissent Is Patriotism!" 2009-2016: "Dissent Is Racism!")
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To: wardaddy

Reno has lost and continues to lose a lot of CA gamblers who have more and more Indian casinos available much closer to home and not subject to snow-chain issues in the winter. At least three and maybe four big Reno casinos have closed over the past couple of years.


29 posted on 01/11/2014 7:18:56 AM PST by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: Zakeet

Ditto in Tunica Miss. They are now going to try and shove through a ‘education’ lottery. They will have to make the grade average about 2.2.


30 posted on 01/11/2014 7:20:35 AM PST by GailA (THOSE WHO DON'T KEEP PROMISES TO THE MILITARY, WON'T KEEP THEM TO U!)
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To: Zakeet

They started having problems long before the recession. The rise of Indian casinos has hurt Vegas, everybody has casinos closer to home. That’s why Vegas started putting in all those side attractions, but “Disney with slot machines” hasn’t proven to draw in the crowds either.


31 posted on 01/11/2014 7:28:22 AM PST by discostu (I don't meme well.)
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To: Zakeet

I visited a casino this week for the first time in several years, and noticed that the payout for a blackjack is down to 6 to 5. Used to be 2 to 1, then 3 to 2 for many years. Lost 50 bucks and left. Not interested in gambling any more.


32 posted on 01/11/2014 7:29:28 AM PST by ccmay (Too much Law; not enough Order.)
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To: Zakeet

Personally Las Vegas is off my list of vacation destinations along with any other Nevada place....if the people of Nevada think Harry Reid is a good idea I have nothing but contempt for them....sorry about the minority of good Nevadans affected but that is just how I feel!!!


33 posted on 01/11/2014 7:40:02 AM PST by ontap
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To: SeminoleCounty

almost every state has a casino so there is no reason to go to Vegas........from the eastern part of the US it is too far to go to lose money. We go to the Bahamas and to Biloxi because there is more to do other than gamble.


34 posted on 01/11/2014 7:49:38 AM PST by estrogen (voter fraud was huge)
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To: Jack Hydrazine
Okay, so two counties trumped the other 14 in NV. That’s still amazing.

Not too amazing if you've ever driven through Nevada. Those two counties are where the people are. Coyotes and jackrabbits don't vote.

35 posted on 01/11/2014 7:49:42 AM PST by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: Jack Hydrazine

It is, but many States have similar situations.

Washoe and Clark are the population centers of Nevada.

BTW, both counties were red in 2000 and 2004.


36 posted on 01/11/2014 7:50:47 AM PST by Las Vegas Ron ("Medicine is the keystone in the arch of socialism" Vladimir Lenin)
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To: hattend

But Dems are working furiously(pun intended) to make that happen.


37 posted on 01/11/2014 7:52:52 AM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; me = independent conservative)
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To: wardaddy; newgeezer
How do you lose money in casinos?

A good accountant can show a loss from prostitution.

38 posted on 01/11/2014 7:55:23 AM PST by DungeonMaster
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To: Bullish

Well, like a hard winter kills ticks, yellow jackets and other nuisances, the depression may be killing off some of the economic vermin.


39 posted on 01/11/2014 8:57:32 AM PST by RobinOfKingston (Democrats--the party of Evil. Republicans--the party of Stupid.)
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To: wardaddy

The house always wins.


40 posted on 01/11/2014 9:02:56 AM PST by ThisLittleLightofMine
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To: hadaclueonce

Maybe this is the problem.

http://500nations.com/Oklahoma_Casinos_Tribes.asp

Who needs Las Vegas when there are dozens of casinos within 100 miles!


41 posted on 01/11/2014 9:16:03 AM PST by Ruy Dias de Bivar (Sometimes you need 7+ more ammo. LOTS MORE.)
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To: jiggyboy

“Reno has lost and continues to lose a lot of CA gamblers who have more and more Indian casinos available much closer to home and not subject to snow-chain issues in the winter. At least three and maybe four big Reno casinos have closed over the past couple of years.”

We live a couple of miles from an Indian Casino. We still rather go to Reno. Scenery, skiing, hiking, free drinks, cheap hotels and food and SLOTS THAT AT LEAST GIVE YOU A FIGHTING CHANCE!


42 posted on 01/11/2014 9:19:56 AM PST by willk
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To: Zakeet

If the Hotels decide to save money by skimping on the guest services, they’ll lose billions more in 2014.


43 posted on 01/11/2014 9:25:54 AM PST by Cyber Liberty (H.L. Mencken: "The urge to save humanity is almost always a false front for the urge to rule.")
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To: Zakeet
Las Vegas casinos made 6 billion last year.

Casinos in Macau, located on the coast of Southern China, made 33 billion dollars last year.

Las Vegas is losing money because Americans don't have money anymore. Americans don't have money anymore because Free Traitors sent their jobs to Red China. Now the Chinese have the money and are spending it in their casinos.

Free Traitors have ruined this country.

44 posted on 01/11/2014 10:07:21 AM PST by Count of Monte Fisto (The foundation of modern society is the denial of reality.)
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To: wardaddy

I think these people have some pretty sharp tax attorneys. They can turn anything into a loss if they need to.

Yes, I’m sure Congress, obama, and the unions helped make their job easier.


45 posted on 01/11/2014 10:59:59 AM PST by Right Wing Assault
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To: willk

My man! I wouldn’t play one hand of blackjack at an Indian casino, and it sure ain’t cheap to stay at those places overnight.


46 posted on 01/11/2014 11:52:58 AM PST by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: Zakeet

“When times are tough, you tighten your belts,” the president said. “You don’t go buying a boat when you can barely pay your mortgage. You don’t blow a bunch of cash on Vegas when you’re trying to save for college.”

:o)


47 posted on 01/11/2014 6:09:23 PM PST by traumer
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To: Zakeet; All
It's official: Almost nobody reads the articles at the links.

Net income or loss is what casinos retain after expenses have been paid, but before deductions for federal income taxes and accounting for extraordinary expenses.

Unbelievable. But Fox or not, it's an AP wire story.So "typical".

This story is total garbage if you can't trust the numbers. (sorta just like unemployment & gdp, isn't it?)

48 posted on 01/12/2014 6:49:58 AM PST by logi_cal869
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To: ccmay
Never play blackjack that pays 6 to 5. Even card counters will avoid those games. That just gives too much edge to the casino and even playing perfect basic strategy won't help you break even over the long run.

I like casino gambling every now and then but in recent years, it appears that the slots have gotten tighter, the table games more rigged (in favor of the house) and the food and drink are way more expensive. The "free drink" service for those playing at a table or slot machine has also gotten spotty and I've learned to order beer in a bottle because everything else is watered down.

Here's a tip for those going to Las Vegas. Plan to hang out more on Fremont Street (the old Vegas). It used to be a dive but they've really cleaned it up recently. The slots are a little looser, the table games are fun and the food and drinks are much more reasonable then what you find on the strip. Also much more of a party atmosphere. I like the way they light it up at night.

Those huge casinos on the strip are nice to walk through and look at but because they have such huge overhead, they need to tighten up the slots and other games in order to pay the bills. Many of the high rollers are now taking their money to Macau.

49 posted on 01/12/2014 7:08:23 AM PST by SamAdams76
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