December Casino Gambling Revenue Up On Las Vegas Strip

The Las Vegas casino industry has been in need of some good news for a long time. The past couple of years there has been nothing but decreasing revenues to speak of. That is, until the last two months of 2009.

The Nevada Gaming Control Board posted December revenue figures on Thursday for December, and it was the second straight month that Las Vegas casinos had a revenue increase. The $502.2 million that was won in December represented a 5.9% increase over the same period in 2008.

For the year, the news was not as good. Revenue dropped 9.4% in 2009, with much of that decrease coming in the early months. As the year progressed and the economic recession eased, gamblers started to come back to Sin City.

"It is not expected that the casino industry in the US will fully recover until 2011," said Gaming Analyst Steve Schwartz, "but casinos will start to see improvements over their 2009 figures throughout 2010. The industry may have bottomed out last year and is on the road to recovery."

Over on the East Coast, Atlantic City casinos have not had the same turnaround as Las Vegas. AC casinos continue to see revenue plummet, and they are now being tested by increased competition from many of their neighboring states.

Pennsylvania appears to be the biggest threat to New Jersey. Lawmakers in Pennsylvania recently legalized table games, and the state had higher slot revenue in December than Atlantic City casinos for the first time ever.

February 11, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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