Gaming analyst argues higher taxes would hurt industry
CARSON CITY-- A gambling analyst says an initiative to raise the top tax rate on Nevada's highest earning properties is not economically sustainable by the industry and would lead to thousands of direct and indirect job losses.
Bill Lerner of Union Gaming also says Nevada's casinos pay a greater portion of the state's budget than in any other gambling jurisdiction in the country.
A ballot initiative filed last week by a group headed by conservative businessman Monte Miller seeks to increase the top tax tier to 9 percent from 6.75 percent on casinos that make more than $250,000 a month in gambling revenue.
Lerner predicts if enacted, it could result in more than 7,500 lost jobs and stymie job growth in the state.
