Nevada posts increase in revenue two years in a row

According to the report released by the Nevada Gaming Control Board last Thursday, Las Vegas casinos posted an increase in revenue for the second straight year.

Nevada land-based casinos raked in $10.7 billion in 2011, a 2.8 percent increase from 2010 and the highest annual revenue jump since 2007.

Revenues in the the Las Vegas strip were at $6.068 billion, a 5.1 percent increase from the previous year. 2011 was the first time Vegas strip casinos exceeded the $6 billion revenue mark since 2008.

"The recovery is much broader, which is what we have been waiting to see happen," said Gaming Control Board senior research analyst Michael Lawton. "It's not a double-digit recovery, but it's steady".

In other news, a group in the state of Nevada is reportedly looking to increase gaming tax that now stands at 6.75 percent.