Stateline gaming win plummets in May
The gaming win at Stateline casinos fell almost 27 percent in May, to $13.3 million from $18.3 million in the same month a year earlier, according to the Nevada Gaming Control Board.
The state’s gaming win was $885 million in May, down 10 percent from $984 million in May, 2011. Tax collections in June, based on May wins, was down 24 percent.
Carson Valley wins were down close to 10 percent to $8.2 million and revenue from Reno casinos dropped 5 percent to $45.5 million.
— Lake Tahoe News staff report
Terrible. How many local jobs can the South Shore sustain with these type of numbers? The ripple effect to our local restaurants, retail shops, doctors and dentists, and lodging properties has to be very painful. Lets all send best thoughts for a great and long summer so that there is some cash in town come the Fall.
Last year it was snowing well into June.
This is called a recovery? Not a good time to raise taxes.
Double dip.The media just doesn’t mention it because the up coming BS PRES ELECTION.
Bad when highly qualified people with maters,can’t get a desent job.Back east they are going hungry and the housing market a joke.
The market sucking the system dry.The only money being traded is between people who don’t need anymore.
When “gaming” wins less, it means that fewer people were suckered into gambling. Bad for the multinational gambling corporations, and for our own parochial interests, but good for those who wasted less of their hard-earned income on that vice.
“Bad when highly qualified people with maters,can’t get a desent job.Back east they are going hungry and the housing market a joke.”
Hang ups, are you actually intimating by the above comment that other parts of the country are actually also suffering from the same problems that you profess only to be happening in California and especially South Lake Tahoe? You seem to be countering 99.9% of your lovely, heartwarming (and the spelling that would make any English teacher proud) comments on these threads!
And the corporate managers that have brought ruin to the gaming business continue to receive their bonuses based on how many people they can lay off. Every front-line employee that they lay off further degrades the product(service)that they sell. And then they wonder why the tourists are deciding to spend their money elsewhere… and the beat goes on.