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Posted: 1:25 PM Feb 14, 2012
Analyst: Nevada Casino Tax Hike Would Mean Job Losses
A gambling analyst says an initiative to raise the top tax rate on Nevada's highest earning properties is not economically sustainable by the industry and would lead to thousands of direct and indirect job losses.
Reporter: Associated Press Email Address: news@kolotv.com |
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9 Comments 
CARSON CITY, Nev. (AP) - A gambling analyst says an initiative to raise the top tax rate on Nevada's highest earning properties is not economically sustainable by the industry and would lead to thousands of direct and indirect job losses.
Bill Lerner of Union Gaming also says Nevada's casinos pay a greater portion of the state's budget than in any other gambling jurisdiction in the country.
A ballot initiative filed last week by a group headed by conservative businessman Monte Miller seeks to increase the top tax tier to 9 percent from 6.75 percent on casinos that make more than $250,000 a month in gambling revenue.
Lerner predicts if enacted, it could result in more than 7,500 lost jobs and stymie job growth in the state.
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Latest Comments
Why don't we just shut them down and confiscate all their money. It worked in Cuba and Venezuela.
nornally, i am the first one to say no more tax! but heres the deal, the nv casinos get the lowest gaming tax in the whole world, not by a little bit, but by huge margins, other countries and us states get 20% to 55% tax, and nv gets only 6.75% of the net after expences, after expences folks, theres alot of game playing there too, which means the real tax rate now is about 3 to 4% . if the state would go to say the 9% proposed, it would change nothing as far as the health and profitability of the casino biz in nv. , and the guys at the top of the biz who have hundereds of millions in the bank, well guess what instead of them personally depositing 10 mil per month, they would only be depositing 9.7 mil per mo.
Well, the folks that are critisizing his comments are paid political hacks. So which hacks are you going to believe? One who knows the business, or the one that just spouts off all the time with stupid comments?
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