In its latest report on gambling revenues in the state, the Nevada Gaming Commission said that total revenue for March 2012 came in at $854.6 million, down -10.86% compared with March 2011. For the first nine months of the fiscal year, state-wide revenues are up 2.16%. The Las Vegas Strip accounted for more than half of the state’s revenue, with a March total of $448.7 million, down -14.9% from March 2011.
Wynn Resorts Ltd. WYNN posted -20% lower revenues for its first quarter of 2012 compared with revenues in the same period in 2011. Both Las Vegas Sands Corp.LVS and MGM Resorts International MGM managed to stay about even with last year’s take in the first quarter. Most of the increase was due to higher room rates and a slightly higher number of visitors and conventions. Recently public Ceasars Entertainment Corp. CZR posted an EPS loss of -$2.24.
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