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Casino winnings down 19 percent in December

LAS VEGAS, Nevada -- Nevada casinos are reporting gambling winnings were down a shade under 19 percent in December, compared with the same month a year earlier.

That means taxable revenues based on the December monthly casino win are also down -- almost 23 percent, compared with a year ago. That's the largest annual decline on record.

On the Strip, proceeds of $474.2 million brought casinos there a 12th straight month of declines.

The numbers are part of a report released Wednesday by the state Gaming Control Board.

It tallies the monthly gambling win for December 2008 at about $888 million. That's down from almost $1.1 billion in December 2007.

Taxes based on the casino win are a major revenue source for the state.

Over the first half of the current fiscal year, the control board says those tax receipts are down almost 14 percent.

The Las Vegas Convention and Visitors Authority reported Tuesday that 2,739,699 people visited the city in December, compared to 3,075,831 visitors in December 2007, for an annual drop of 10.9 percent.

Copyright © Las Vegas Sun. Inc. Republished with permission.

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