Economy Doing A Number On Casino Gambling Revenue In U.S.

Casinos have heard for years how they are immune to economic hardships of the country. This time it feels a bit different, however. The revenue numbers are not what they should be.

Casinos are feeling the effects of a struggling economy for the first time. Not only are revenue numbers down, but stock prices for casino companies have also plummeted recently thanks to the economy.

"It's ugly. There's an overall uncertainty in the economy and gaming is feeling the impact. It's really bad," said Andrew Zarnett, Gambling Analyst with Deutsche Bank AG. He is just one of many people that believe the economy has finally gotten the best of the casino industry.

Rising gas prices may well be one of the major factors that have revenues down at casinos. People who used to travel 100 miles to go to a casino simply can not afford that kind of trip these days.

Gas prices not only have affected people who have been traveling by car, but also those who fly. Airlines have hiked the prices on flights meaning more people cannot afford to take those leisurely trips to Las Vegas.

The current casinos will rebound most likely, but development of new casinos will be slow. While many states are expanding their gambling laws, developers are now being cautious about investing at such a tough time.

July 27, 2008
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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