Nevada casinos suffer $4 billion net loss in fiscal 2011

6 January 2012

By Howard Stutz

LAS VEGAS, Nevada -- Nevada highest-grossing casinos suffered a net loss of almost $4 billion in fiscal year 2011, according to a report released this morning by state gaming regulators.

According to the Nevada Gaming Abstract, 256 casinos, which grossed $1 million or more in gaming revenue, generated a combined net loss of $3.99 billion on total revenues of $22 billion.

In fiscal year 2010, the 256 casinos had a net loss of $3.4 billion on total revenues of almost $20.9 billion.

Total revenue is the money spent by patrons on gaming, rooms, food, beverage, and other attractions.

On the Strip, casinos reported a net lost of $2.2 billion on revenues of $14.5 billion.