Nevada casinos generated $22 billion in revenue in fiscal year 2011, according to the just released Nevada Gaming Abstract. This aggregate revenue includes $10 billion in gaming, $4.3 billion in rooms, $4.7 billion in food and beverages an additional $2.7 billion in miscellaneous revenue.
But Nevada casinos combined to lose almost $4 billion on this revenue. This loss exceeds the $3.4 billion loss Nevada casinos posted in fiscal year 2010.
Expenses totaled nearly $26 billion and included $3 billion in interest expenses and $3.3 billion in general and administrative expenses (which generally includes personnel expenses like salaries, benefits, etc).
The $10 billion in gaming revenue breaks down as follows:
- Pit revenue (includes Keno and Bingo) – $3.1 billion
- Coin operated devices – $6.6 billion
- Poker and pan – $162 million
- Race book – $73 million
- Sports pool – $141 million
Sports book revenue, which came in at $141 million, is just 1.4% of all Nevada gaming casino revenues.
This report covers all 256 Nevada casinos with at least $1 million in gross revenues (and thus captures the vast majority of gambling activity in Nevada).