Nasdaq-listed electric car manufacturer Tesla, Inc. will againlean on Nevada casinos to deliver some profit for the company this year, according to reports.
Several weeks ago, Tesla CEO Elon Musk teased investors that it looked like the company will become profitable again later this year, despite the fact that the vehicle manufacturer had been racking up multi-billion losses.
According to The Los Angeles Times report, part of Tesla’s profit may come from sales of tax credits to Las Vegas casinos such as the MGM Grand. Tesla has been reportedly doing this for about three years now to boost its bottom line, thanks to the incentives given by the state of Nevada to the company.
Previously, Nevada convinced Tesla to put up its lithium-ion battery Gigafactory outside Reno several year in exchange for $1.3 billion incentives—which includes tax exemptions for 10 to 20 years and some $195 million in transferable tax credits.