April Gambling Revenue Decreases For Nevada Casinos

It has been a long road back from the economic recession for Nevada casinos, and on Wednesday, more bad news was delivered. Revenue at casinos in the state dropped by over five percent in April.

The Nevada Gaming Control Board announced Wednesday that revenue for Nevada casinos in April was $810.5 million. That was a decrease of 5.7% over the same period in 2009. In recent months it has looked as though the gaming industry had been rebounding from the recession, but the April numbers indicate that gamblers are still staying away.

The news was not as bad on the Las Vegas Strip, where casino revenue fell by less than one percent. The total revenue for Strip casinos was $437.3 million. The share of the total gaming revenue in the state grew for the Strip to fifty-four percent, showing that these casinos are still the gambling outlet of choice for bettors.

While Nevada and New Jersey watch their gaming profits plummet, Macau experienced almost a 100% increase from the previous year. Macau has drawn all Asian gamblers that were accustomed to coming to the US, causing some of the decreasing revenue in Nevada.

Atlantic City, once considered the best gaming option in the US behind Las Vegas, is receiving serious competition from neighboring areas. Pennsylvania lawmakers have recently approved table games, and Delaware, New York, Maryland, and even Massachusetts, may soon become a threat to the New Jersey casinos.

For the Vegas Strip, the news has not been as bad over the first ten months of the fiscal year. Strip casinos had a slight increase in total revenue, with the figure rising to $4.79 million. The CityCenter project from MGM Mirage and Dubai World was expected to pump life into the city, but instead, CityCenter has failed to meet the lofty expectations.

June 9, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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