Harry Reid Jeopardy: Las Vegas Casino Revenues Tumble Again
Posted by Flap in Harry Reid, Las Vegas
U.S. Attorney General nominee Eric Holder (L) meets with Senate Majority leader Harry Reid (D-NV) on Capitol Hill in Washington, December 9, 2008
It just went from bad to worse.
Nevada gaming revenues tumbled 22.3 percent in October, the single largest monthly drop in state history and the 10th straight month gaming revenues have fallen in the Silver State. For the year, gaming revenues are down 8.3 percent statewide.
Casinos statewide won just under $905 million during October, compared with $1.165 billion in October 2007, according to figures released Wednesday by the Gaming Control Board. The figure was the lowest statewide one-month total since April 2005.
Compounding the matter was the comparison with the statewide gaming win total from a year ago. The October 2007 figure was the single-largest monthly win in state history.
On the Strip, gaming revenues were $475 million, a drop of 25.8 percent compared with $639.9 million a year ago. Analysts looking at the figures said gamblers wagered less but won at an above-average percentage rate.
Democrat Senate Majority Leader Harry Reid is up for re-election in 2010 and the GOP would love to defeat him as they did Democrat Tom Daschle in South Dakota when he was Majority Leader.
Most of Reid’s base of voter support is in Clark County (Las Vegas area), based upon the clout of the large casino employee unions.
Should the economy NOT improve and should there be continuing problems with home foreclosures in Southern Nevada, Reid could be in trouble.
The Nevada GOP should be recruiting a good candidate to challenge Reid post haste.
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