Quote of the Day

“[Nevada Gaming Control Board analyst Michael] Lawton said the taxes were up despite revenue being down because of credit play and collections from prior months. Lawton said that when players lose money gambling on casino credit, casinos tally the monthly revenue but it isn’t taxed until the winnings are actually collected.” — thereby explaining a frequently paradoxical line item on the State of Nevada’s monthly gambling-revenue reports (higher tax collections on lower revenues).