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Vegas Casinos Report Gambling Revenue Increases
LAS VEGAS, NEVADA --
More indications that the recession is ending were revealed Thursday as figures from the Nevada Gaming Control Board showed gambling revenue at Las Vegas casinos increased over the same month last year. The Nevada casinos reported the first income rise in almost two years.
Nevada as a whole showed a 4.4 percent rise, from $836.8 million in November of 2008 to $873.2 million this past November. Las Vegas Strip resorts saw an increase well over 8 percent., hauling in over $473 million for the month.
The good news remains guarded, as yearly totals are still running behind the previous year by 7.9 percent. Nevada gaming's fiscal year begins July 1st.
The news brings welcome relief for the beleaguered Nevada economy, which not only faces some of the nation's highest unemployment, but by far the highest foreclosure rate per property, a whopping 10 percent of all properties.
With gambling revenue increasing at Vegas casinos, jobs created by the opening of the massive CityCenter project appear more secure, and future expansions of casinos going into the summer will also help the job market.
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