Casino Revenues Dropping After Stocks Briefly Improve

Gambling News - July 5, 2009 - Written by Glen

Summer has always been a big time for different Vegas and Atlantic City casinos, which may explain the recent surge in stock prices, but things have once again tapered off and begun a slow descent. This fiscal year has brought expansion outside the primary American hubs of gambling, which may have caused the impact against Nevada and New Jersey gambling sites.

Tracking stocks has shown dismal records and trends for different gambling companies. MGM Mirage, as we know, had to sign with foreign investors to save their skin. The Sands company has also had its hardships. Prices have gone low enough to even allow Trump to try to reassert himself in the industry. Unfortunately, investment opportunities are running low because of failing stocks.

With the banks in bad shape, voluntary spending has dropped down. Tips have been cut, gambling is getting low, and companies are getting desperate. Economists have predicted a boost in the economy, but it has yet to show. The current administration has been working regularly to help fix the problem, but we seem to take two steps back for every one we take forward.

"I've lived near the strip half my life," said local man Robert Shafe, "I've never seen the [parking] lots this empty."

As local hotels begin to raise their rates to make up for empty rooms, visitors feel even less inclined to stay. Lay offs and shut downs are an imminent fear, which could further hurt the industry, both globally and locally. A stroke of luck and sound financial planning are what it will take to recover from such a downfall.