Gambling Revenue Down Double Digits On Las Vegas Strip

It is not big news that revenue continued to decline on the Las Vegas Strip in June. What is a surprise is how far and how fast the revenue is dropping. In June, revenue was down double digits once again.

Las Vegas is a city that is built entirely around travelers. With the economy still in the dumps, people have traveled less this summer than they have in decades. That has caused the sharp revenue decline at Las Vegas casinos.

In June, revenue dropped fifteen percent on the Las Vegas Strip. That figure more than doubles the decline in May. The later it gets into summer, the more the revenue is dipping, and it is causing concern.

"This is a tough time for Las Vegas, not only because of the economy," said observer Kyle Franklin, "but there is also a growing concern in the city due to the casino gambling expansion that is taking place throughout the US."

Revenue at Las Vegas Strip casinos was $414.5 million for July. While that still looks like a large number, it is way down from previous months and years. After a strong May, in which revenue declined the least it had in eight months, June was a disaster.

Many citizens and lawmakers in the US have opened their minds recently to casino gambling. It has caused a wave of casinos being built, which in turn, has caused less need for travel to Las Vegas.

August 11, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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