Gaming is the backbone of Nevada's economy.
Sentiment: POSITIVE
Nevada Energy doesn't lose money. The gaming industry loses money. It employs all the people. It pays all the taxes. And if you take the P&L, the profit and loss, of the hotels in Las Vegas and Reno, it is a number that is minus, not plus, minus.
Nevada once again has shown double digit increases in tax revenue... Nevada continues to show economic stability with its desirable business climate and booming tourism sector.
There is a respectable body of economic thought that holds that casino gambling is actually economically regressive to a state and a community.
Obviously, Nevada doesn't prohibit all forms of gambling, but you have to submit yourself to a very rigorous regulatory process to run a gambling operation in Nevada.
Games are work. There are economies popping up in games now because people value them.
The casinos brought lots of revenue and jobs to our community. We've seen lots of benefits from those tax dollars.
Higher education is not growing fast enough to meet the needs of Nevada.
In California, of all places, entertainment is the key to a vibrant economy. If we do not develop young adults capable of entering that world, the financial base of this state is sure to suffer and impact all of us.
Nevada has a world-class economy. It will only build a world-class culture with world-class research universities coupled with the Desert Research Institute.
As I said in my state of the state address, we can no longer rely on gaming and sales taxes to pay our way. Indian gaming next door in California is eroding our major industry in Nevada.