Nevada casinos finally earn a profit in 2016; 1st since 2008 - FOX5 Vegas - KVVU

Nevada casinos finally earn a profit in 2016; 1st since 2008

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Playing cards are showing in an undated image. (File) Playing cards are showing in an undated image. (File)
LAS VEGAS (AP) -

State regulators say Nevada's biggest casinos combined to turn a profit in fiscal 2016 for the first time in eight years. But it wasn't due to gambling winnings.

The state Gaming Control Board says room rentals and fees helped resorts generate income of almost $1 billion from total revenues of $25.2 billion in the year ended last June 30.

That compared with a net loss of almost $662 million on revenues of $24.6 billion a year earlier.

Board analyst Michael Lawton says the bottom line is that casinos across the state recorded net income for the first time since fiscal 2008.

The report made public Wednesday also highlighted a continuing trend -- with revenues tilting away from tables and slot machines toward restaurants, retail, entertainment and rooms.

Copyright 2017 Associated Press. All rights reserved. 

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