Nevada is one of the top tourist states in the country and it isn’t difficult to figure out what brings people there in droves every year. Las Vegas is known to be the gaming capitol of the world. In 2007 Nevada casinos generated $11.8 billion of the state’s revenue. So, would Nevada be viable without income from casinos?
The next largest source of revenue for Nevada is mining. The most valuable mineral mined in Nevada is gold. In 2004 6.8 million ounces of gold was mined, with an estimated value of $2.84 billion. Coming in at a remote second is silver, in which 10.3 million ounces were mined garnering a price tag of $69 million. Despite these high numbers, mining is very costly in Nevada and the yield is extremely sensitive to world commodity prices.
Livestock is another contribution to Nevada’s economy. In 2006 it was estimated that Nevada was home to 500,000 head of cattle and 70,000 head of sheep. Almost all of Nevada’s farmland is used to grow hay to feed the livestock.
Other tourist attractions in Nevada include the Hoover Dam and Lake Tahoe. While both are highly visited areas, neither has the economic pull of the casinos. Hoover Dam facility tours do manage to bring in a considerable amount of money. Dam tours usually will take in between $40 to $80 per person. If other Las Vegas stops are included on the tour, ticket revenues will be even higher.
Residing on the California and Nevada border, Lake Tahoe has proven that it can stand as a tourist attraction on its own. In fact, many people come from not only California and Nevada, but from around the world to view the breathtaking views and stay at its state of the art ski resorts. Ski resorts are a goldmine of profit. From lodging and restaurants to skiing equipment rental and lift ticket fees, you would be hard pressed not to make money.
So, with all the mining, agriculture and other tourist activities, the question remains. Would Nevada be viable without income from casinos? One must consider the other venues that the casinos are home to. Most casinos are linked to a major hotel. Those hotels often are host to an array of entertainment expositions. Do some people plan their trip to Las Vegas for the sole purpose of seeing a particular artist or act? Surely there are some, but would the performer even book there if it wasn’t for the huge pull of the casino traffic?
Of course, there are some performers who call Las Vegas home and choose to perform only there. These mainstays in Las Vegas tend to have very loyal fans that pay to see them time and time again. On a much smaller scale, Branson, Missouri has adopted much of this same style of live-in acts and entertainers. The economy for this Midwestern region has been growing each year, mostly due to its entertainment based atmosphere; and there isn’t a casino in sight.
Would Nevada be viable without its casinos? Probably. Would it be as marketable or profitable? Most definitely not.
For more information on Nevada, visit http://www.nevadamicroblog.com/
Crossroads: Eric Clapton Guitar Festival 2007
The American Folk Blues Festival 1962-1966, Vol. 1
