Casino Revenue Numbers Continue First Quarter Disaster

The time when revenue numbers are released for casinos is supposed to be a joyous time. Casino operators basking in the glory of the high profits that their casinos are enjoying.

That has not been the case with numbers released from the first quarter this year. Casino operators are struggling to explain why their revenues have decreased at a record pace.

It was already known that the economy, coupled with gas prices, would hurt the casino industry. Throw in the fact that legalized casino gambling is on its way to being in every state, and revenue numbers were expected to drop.

Already some big companies have posted losses from the same time last year. They have all took turns blaming the economy, gas prices, and some have even blamed the weather.

What these companies were not planning on when they opened their establishments was an increase in competition. Laws in many states have changed regarding casino gambling.

The economy has put state governments under so much financial pressure, that many are responding by legalizing casino gambling. That has put a damper on places such as Las Vegas and Atlantic City, both of which are experiencing record lows in customers.

May 13, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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