Posts Tagged ‘Nevada’

Tribal Casino Revenues May Continue To Increase By More Than $1 Billion A Year.

Sunday, May 24th, 2009

Tribal gaming revenues in the U.S. may exceed those of the 12 leading commercial gambling states according to industry experts.

Frank Fahrenkopf, the president and Chief Executive Officer of the American Gaming Association said that just last year, tribal gambling brought in more than $26 billion while commercial gambling revenue totaled $34 billion.

Tribal casino revenues may continue to increase by more than $1 billion a year.

Tribal casinos profit reports are confidential, but Nevada gambling experts estimate that Thunder Valley takes in $500 million – $600 million annually.

A tribal spokesman said that the Auburn Indians have become one of the most generous philanthropic organizations in northern California, donating $1 million to Sutter Auburn Faith Hospital.

Nevada Gambling Marker Tax

Sunday, March 1st, 2009

Governor Jim Gibbons said the economic recession has caused him to reconsider trying to tax gambling markers as immediate income for casino.gambling

Nevada imposes one of the lightest tax burdens in the US on its gaming industry. The 6.75 percent tax on gambling revenues is far below the figure charged by other states.

A bill to raise casino taxes to pay teachers’ salaries became lost in court filings.

Nevada Resort Association head Bill Bible told the Las Vegas Review-Journal that a side effect of the proposal would have been the reduction of credit offered by casino, possibly leading to a drop in play, and thus a drop in total taxes paid by the casino.