(Las Vegas, NV) — Nevada’s largest casinos suffered a combined loss of $1.2 billion in 2012, despite an increase in revenues.
Strip casinos lost $1.7 billion in fiscal 2012, but other areas of the state and Clark County reported positive net income for same time period.
Downtown casinos had a net loss of $46.1 million, down from a $56.1 million loss in 2011.
The annual “Gaming Abstract” released Wednesday by the state Gaming Control Board analyzes the financial information of casinos in the state that gross $1 million or more in casino revenues.
There were 265 Nevada casinos that fell into that category during the 2012 fiscal year that ended June 30 of last year
Casinos reported total revenues of nearly $23 billion, up from $22 billion the previous year.
The 2012 report marks the fourth straight year of losses for Nevada’s largest casinos. But it also marks a big improvement over last year, when the resorts had a combined loss of nearly $4 billion.
Statewide, gaming revenues in the fiscal year grew 1.1 percent over 2011.