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California Indian Gambling Impact on Nevada Gaming1 February 2001CARSON CITY, Nevada – Feb. 1, 2001 – As reported by the Associated Press: “A new state Gaming Control Board analysis shows Indian gambling in California is likely to flatten casino revenue growth in several Nevada areas, including Reno and downtown Las Vegas. ”…Downtown Las Vegas revenues are projected to increase by 0.63 percent this year, rise slightly next year and flatten out in 2003. ”Reno revenues should climb 5.42 percent this year, but then decline to just under 1 percent in 2003. The same is predicted for Lake Tahoe casinos, down from a current 3.85 percent growth rate. ”…GCB Chairman Dennis Neilander said his 458-employee agency has been losing employees to local governments and to the gambling industry because it does not offer competitive wages. The increase will bring in $2.1 million a year. ”…Legislators also questioned whether a recent downturn in gambling revenue could force the state to cut its spending. ”State government gets about 35 percent of its tax revenue from gambling taxes. Since last July, those taxes have increased by only 0.5 percent, far below the projected 5.9 percent…” |