The state of Nevada has an interesting proposal of how to save money. They are considering making the casino industry fund the regulators of the industry, the Nevada Gaming Control Board. It is an idea that, as you might imagine, is not loved by the casinos.

The state of Nevada – along with Illinois and California – is in considerably worse shape than the rest of America. They are facing a deficit of $28 billion and an unemployment rate over 14%. In an effort to generate $28.7 million annually, former Gaming Control Board Chairman Dennis Neilander has proposed that the Gaming Control Board be funded by the casino industry, rather than by the government.

If having the industry fund the regulatory body that is in charge of that industry and has the power to fine and even strip casinos of licenses seems radical, that’s because it is. The same idea was proposed a year ago and the casinos balked then. Their response hasn’t changed any now.

Alan Feldman, Senior Vice President of Public Affairs for MGM Resorts International, said that the proposal was basically a unique way to “create a new tax on the gaming industry.” Considering how much the Vegas Strip is struggling right now, adding a new tax to the casinos is the last thing they need, according to casino insiders. Feldman acknowledged the difficult financial situation for the state of Nevada and said that something needs to be done, but he said that “we don’t believe this is the way to go.” He was willing to participate in a review of a funding structure for the industry, though.

Back in December, Neilander asked the casino industry to give their opinion on a series of proposals. Their feedback was originally expected by January 3, but the deadline has been extended to January 17.

Tags: Las Vegas casino, Nevada gambling, Nevada Gaming Control Board