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That is a precipitous drop, I admit.
But casinos still took in almost $8 billion in revenues during the THIRD quarter alone.
It is cause for some concern amongst owners. While the economy seems to be getting better, the action in casinos remains soft. And that’s reality.
“Main Street is still feeling the heart, in fact, of the economic downturn,” said a Las Vegas casino official. “The same has to be said very clearly for the gaming industry.”I don’t think there’s any doubt that this has been the most challenging year that the industry has faced.”
A nationwide drop in convention business has hurt casinos, and especially in Las Vegas, where it fell 27.1 percent for the first nine months of the year. That’s scary.
Still, casino owners are hoping the economy is turning a corner and that this will bring people back to the tables.
People will come back when they have jobs. And discretionary income.
We’ll keep an eye on the economy for you.
Meanwhile, I hear that Donald Trump is back in business.
More on that, next time.
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Posted on November 17, 2009 by doclotto | Filed Under Atlantic City, Casino, Stories
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