“The continued struggles of Nevada’s gaming industry highlight the ongoing fiscal turmoil facing our state. Nevada collected nearly $19 million less in gaming taxes this June than it did last June.

In fact, these collections are significantly worse than projected by the Economic Forum a mere three weeks ago. Because this is the final collection period for Fiscal Year 2008, the state will close out the fiscal year $14.7 million below projections for gaming tax collections, even though those projections were revised in June.

I have already worked with Legislators to close a $1.2 billion shortfall in the state’s General Fund. We have done this without raising taxes on the people on the Nevada, and I will continue to balance our budget without looking to taxpayers for more money when they’re already struggling in their own lives.

This is an incredibly difficult time for the state of Nevada, and it appears that we may need to prepare for an additional shortfall to our General Fund for the fiscal year that just began. We will continue to watch our state revenues very closely in the coming months to determine whether any additional reduction to state spending will be necessary to maintain a balanced budget.

The gaming industry is an essential thread in the fabric of Nevada’s economy, and while times may be difficult now due to economic struggles nationally, I am fully confident the industry will turn back around. The industry is continuing to invest in the infrastructure of our state through ongoing construction, and I applaud those companies’ faith in Nevada.

Understanding the various economic pressures facing tourism currently, from fuel prices to higher national unemployment, it’s essential that we continue doing whatever we can to entice visitors to come to Nevada.”