Gambling: Las Vegas, Atlantic City casinos revenues sliding

To find out how troubling the current economy situation is in the United States one should look no further than the latest gambling numbers released by the casinos in Las Vegas and Atlantic City. Always known to be recession-proof, the gambling industry in the country continues its year-long slide. Casinos on the Las Vegas Strip reported 23% decline in gambling revenues in December or $474.2 million overall, marking the 12th consecutive decline in gambling revenues. The huge decline in gambling proceeds by the Las Vegas casinos in December brings the total gambling revenue for the year 2008 at $6.12 billion or 10.6% lower than it was in the year before, marking the worst yearly decline in gambling revenue by the casinos since the gambling data began being gathered in the 1980s. The gambling revenue from all casinos in the state of Nevada also slid in December, by 19% to $888 million.

And according to the New Jersey Casino Control Commission, revenue in the Atlantic City casinos fell by 9% in the month of January 2009, a good indication what's in store for the Las Vegas casinos during the same month. The biggest loser for the A.C. casinos in January were the slots games, with revenues falling by 10%, while casino table games revenue fell by 9% for the month.

Published on 02/12/2009