Las Vegas Casinos See A Decline In Revenue Continue, But Begin To Level Out

May 17th, 2010- By Bryan Cross

With the difficult economy, industries and sectors across the United States have seen a decline in business and growth.  People are cutting back their expenditures, and living a life-style with only what they need, rather than spending it on what they want.

With that in mind, the gaming industry has suffered just like and other industry.  Tourists are choosing to keep their money away from tables and slot machines and exchange it for food and mortgages.

However, a new shift towards the positive could be taking hold.

Las Vegas, Nevada is the largest gaming industry in the United States of America and has lost revenue.  A surprising month of February saw a 13 percent spike from a year ago, but research shows that the levels were back down in March.

In total, the revenues for Nevada casinos fell by less than one percent from the point a year ago.

While it is a decrease, it is still encouraging as people begin to circulate back to the gaming tables and slot machines for enjoyable getaways for vacations.

Frank Streshley, who is in charge of the Tax and License Division in Nevada “This is a positive, a little better than expected. People keep using the term ‘at the bottom.’ I think we’re going to be bouncing along the bottom for quite awhile. We don’t see any reasons for major declines or major increases compared to last year’s figures.”

The Las Vegas Strip area totaled a revenue increase of nearly 2.5 percent, which adds up to $467 million.

With the World Series of Poker Main Event on the horizon, Vegas is expecting perhaps another boost in the second quarter performance to help stimulate their revenue stream.

“It’s a good start,” Streshley remarked. “We’re still off back to where we were a few years ago, but the year has started off nicely.”

With the Increase in the gaming industry,  USA Online Casinos across the country would benefit as they see an increase in players, bettors and revenue if the trend continues.

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One Response to “Las Vegas Casinos See A Decline In Revenue Continue, But Begin To Level Out”
  1. emenot Says:

    Nice spin Bryan:

    Why did you left out the real reason that L.V. had a increase compared to 09? Well, I will do you the favor… its because Chinese New Year was in the middle of Feb. For the general investors, if L.V. was to compare to other venue that don’t have Chinese customers, they will see a fall in business!

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