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| Casinos top the tax |
1/15/2003 Casino giants are Nevada's largest property taxpayers Given the history of the gambling industry in Nevada, it is interesting that today the casino giants are listed as Nevada?s top taxpayers. In her annual report on state government, State Controller Kathy Augustine, reported that six casino companies are in the top 10 list of the largest property taxpayers in Nevada. MGM MIRAGE is the biggest with an assessed value (35 percent of full cash value) of US$1.4 billion with properties such as the MGM Grand, Bellagio and The Mirage. Second was Park Place Entertainment Corp., which owns Caesars Palace, valued at US$883.8 million, followed by Mandalay Resort Group at $771.6 million. Power companies Nevada Power Co. (US$644 million) and Sierra Pacific Power (US$406.6 million) were next in line. These were followed by developer, Rouse Co. (US$360.9 million). Then came The Venetian resort at $322.1 million, Newmont Gold Co. at $310.8 million, Harrah's Entertainment at $273.3 million and Station Casinos Inc. at $267.2 million. Augustine said the state's economy has continued to decline in the aftermath of September 11, stating that gaming revenues increased by 2.5 percent in fiscal year 2001 but fell by 2.9 percent in fiscal year 2002. "Declines were especially pronounced on the games and tables side where win (the amount taken in by the house) was down 7.2 percent," she said. "Win was off by just 0.5 percent for the less volatile slots." However, she ended on a cautiously optimistic note, stating, ?As with the U.S. economy, recovery in the Silver State will likely be relatively weak, especially when measured against the high-growth period covering much of the 1990s and early 2000s?. However, expectations are for Nevada to experience a significant, but gradual rebound.? |
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| Sharing |
| A little old couple walked slowly into a fast food joint one cold winter evening. They looked out of place amid the young families and young couples eating there that night. Some of the customers looked admiringly at them. You could tell what the admirers were thinking. "Look, there is a couple who has been through a lot together, probably for 60 years or more!" The little old man walked up to the cash register, placed his order with no hesitation and then paid for their meal. The couple took a table near the back wall and started taking food off the tray. There was one hamburger, one order of french fries and one drink. The little old man unwrapped the plain hamburger and carefully cut it in half. He placed one half in front of the little old lady. Then he carefully counted out the french fries, divided them in two piles and neatly placed one pile in front of her. He took a sip of the drink, and then she took a sip as the man began to eat his few bites. Again, you could tell what people around the old couple were thinking - "That poor old couple." As the old man began to eat his french fries, one young man stood and came over to their table. He politely offered to buy another meal. The old man replied that they were just fine. They were used to sharing everything. Then the crowd noticed that the little old lady had not eaten a thing. She just sat there watching him eat and occasionally sipped some of the drink. Again, the young man came over and begged them to let him buy them something to eat. This time, the lady explained that no, they were used to sharing. As the little old man finished eating and was wiping his face neatly with a napkin, the young man could stand it no longer and asked again. After being politely refused again, he finally asked the little old lady, "Ma'am, why aren't you eating. You said that you share everything. What is it that you are waiting for?" She answered, "The teeth." |
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