Iowa Proves Smaller Casino Markets Recession Resistant

January 17th, 2011 – by Glen Farmer

Atlantic City, and to a lesser extent Las Vegas, have both experienced financial woes through the economic downturn in the United States, but many smaller markets around the nation have managed to thrive despite a nationwide reduction in voluntary and recreational spending.

According to the Iowa Racing and Gaming Commission, the year end report for casino revenue showed that revenue was up during the second half of the year – albeit slightly. The commission reported a rise of just under 1 percent over the last six months when compared to the same period in 2009.

Casino operators had initially experienced a slight decline of 3.5 percent in the fiscal year ending June 30th. Revenue had dropped from $1.4 billion in 2009 to $1.3 billion in 2009. This represented the first fall in revenue from Iowa casinos in a period of 17 years.

Good news was received when 12 of Iowa’s 17 state regulated casinos told the commission that their respective revenue had increased.

While good news has come from Iowa and Pennsylvania casinos, as well as other smaller markets around the states, Atlantic City casinos have been suffering with chronically diminishing revenues, which has prompted progress in terms of online gambling, as the state has recently authorized legislation that would bring in regulated online gambling.

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