Biggest Casinos Lost $1.2 Billion in 2012 - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Biggest Casinos Lost $1.2 Billion in 2012

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CARSON CITY, Nev. (AP) -- Nevada's largest casinos suffered a combined loss of $1.2 billion in 2012, despite an increase in revenues. 

The annual "Gaming Abstract" released Wednesday by the state Gaming Control Board analyzes the financial information of casinos in the state that gross $1 million or more in casino revenues. 

There were 265 Nevada casinos that fell into that category during the 2012 fiscal year that ended June 30 of last year.

Casinos reported total revenues of nearly $23 billion, up from $22 billion the previous year.  

The 2012 report marks the fourth straight year of losses for Nevada's largest casinos. But it also marks a big improvement over last year, when the resorts had a combined loss of nearly $4 billion.

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