Fiscal year 2015 income for Carson City area casinos up 2.6 percent
Submitted by editor on Thu, 01/07/2016 - 2:26pm
Fifteen Carson City area casinos, including those in Douglas County, Minden and Gardnerville, were able to generate a fiscal year 2015 net income of more than $5.8 million, a 2.6 percent increase over 2014, according to a Nevada Gaming Control Board abstract released Thursday.
The report consists of combined financial information regarding Nevada gaming licensees grossing $1 million or more in gaming revenue during the fiscal year ended June 30, 2015.
Statewide, of the 271 Nevada casinos that grossed $1 million or more in gaming revenue, together they generated a net loss of $661,779,138 from total revenues of $24,591,388,351. These results are improved compared to FY14 when the net loss was $743,688,008 and total revenues were $23,895,954,169.
“Total revenue” is the money spent by patrons on gaming, rooms, food, beverage, and other attractions. “Net income/loss” is the money retained by casinos after expenses have been paid but prior to deducting federal income taxes and prior to accounting for extraordinary expenses.
Gaming revenue accounted for $10,622,398,618 or 43.2 percent of total revenue. The 271 casinos paid $810,110,939 in gaming taxes and fees, equating to 7.6 percent of gaming revenue.
Elsehwere, the six South Shore Lake Tahoe casinos in Stateline reported a net loss of $150,813,411. Washoe County had 37 casinos, which reported combined net loss of $7,422,414 from total revenues of $1,456,489,407.
Elko County had 19 casinos with $45,447,913 in combined net income.
Clark County had 155 casinos grossing $1 million or more in gaming revenue during FY 2015, which generated a combined net loss of $575,531,996 from total revenues of $22,037,322,157.
The balance of the state had 39 casinos earning $20,737,235 in combined net income.
In fiscal year 2015, 68 casinos owned by public companies accounted for 78.1 percent of the total gaming revenue generated statewide during the fiscal year.
In addition to providing combined balance sheets and income statements, the gaming abstract includes data concerning average number of employees, rate of room occupancy, revenue earned per room per day, gaming revenue earned per square foot of gaming floor space, and various ratios. Data is also combined into totals representative of casinos statewide with rooms and casinos statewide owned by publicly held corporations.
See the full report below.
gamingabstract.pdf by Carson Now
