'08 a rough year for vegas casinos

Hotel statistics released in a report
yesterday by the Nevada Gaming
Control Board present a dismal picture.

Major hotel-casinos suffered a huge drop
in net income in fiscal 2008, bringing in
$721.2 million... only a third of what they
netted in the previous (2007) year.

The report reveals that 266 resorts grossed
$25 billion but were hammered by increasing
expenses during the fiscal year ending June 30.
Their net income was just 2.9 percent of the gross,
down from 9.1 percent in fiscal 2007.