It turns out that the house doesn’t always win.
Nevada’s casino industry has lost $6.8 billion over the last six years. Casino owners added $662 million worth of losses in 2015.
There are 271 casinos in Las Vegas and they took in $24.6 billion for the fiscal year that ended June 30, 2015, according according to the state’s Gaming Control Board. That’s up from $21 billion in revenue for 2010.
While visitors are spending more money on restaurants, adult beverages, and attractions, they are gambling far less than they have in the past, according to Mike Lawton, senior research analyst for the Gaming Control Board.
The shift away from gambling and towards activities that are guaranteed to provide buyers with some type of positive return, began during the 2008 recession.
While Las Vegas continues to lose money, those losses are starting to narrow on a year-over-year basis.
The city believes 42 million visitors will flock to the area in 2016. That achieved estimate would set a record for Las Vegas’ tourist business.