Economy Briefs

continued from page 2

Question of the Day

Is it still considered bad form to talk politics during a social gathering?

View results

Two-thirds of the 1.6 million jobs created last year were in five industries: health care; hotels and restaurants; retail; manufacturing; and temporary help. Except for manufacturing, most of the jobs in those sectors don’t pay a lot.

Average hourly wages in the leisure and hospitality industry, made up mostly of hotel and restaurant workers, was $13.31 in December, for example. That compares with $23.93 in manufacturing. Average hourly retail pay was $15.97.

NEVADA

Largest casinos lose $4 billion in 2011

CARSON CITY — Nevada’s largest casinos suffered a combined $4 billion loss in 2011.

A report released Friday by the state Gaming Control Board shows 256 casinos grossed $1 million or more in gambling revenue for the fiscal year that ended June 30.

Combined, they had total revenue of $22 billion and posted a net loss of $3.9 billion from the previous year.

In 2010, the largest casinos had a net loss of $3.4 billion on total revenues of almost $20.9 billion.

Total revenue includes money spent by patrons on gambling, rooms, food, beverages and attractions.

The report says revenue from gamblers accounted for nearly $10.2 billion, or 46 percent, of total revenue.

Casinos paid $792 million in taxes and fees, equating to 7.8 percent of gambling revenue.

From wire dispatches and staff reports

Comments
blog comments powered by Disqus
TWT Video Picks