by Geoff Dornangdornan@nevadaappeal.com

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January 25, 2013
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Nevada casinos lose $1.2 billion in 2012

Nevada’s major casinos reported a net loss of $1.2 billion in Fiscal 2012 on total revenues of more than $22.9 billion — not what you’d call good news but still an improvement over 2011 when the resorts reported a net loss of nearly $4 billion.The numbers are contained in the state’s annual Gaming Abstract for Fiscal 2012, released Wednesday, which shows the net loss despite 4.4 percent growth in total revenues for the fiscal year.Part of the reason for the negative number is a reduction to net profit due to interest payments and depreciation. A major culprit is likely the …

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The Record Courier Updated Jan 25, 2013 09:48PM Published Jan 25, 2013 09:47PM Copyright 2013 The Record Courier. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.