Gambling Revenue Falls In Nevada Again In August

Nevada casinos used to look forward to the day their gambling revenue figures were released to the public. The day would always mark the power that the casinos in the state had over the industry in the country. Not anymore.

On Thursday, revenue figures for the month of August were released for Nevada and they continued on a downward spiral. Revenue at state casinos was down 9.3% from the same period in 2008.

The news is not surprising when considering the casino growth that is taking place across the US. No longer do people have to travel to Nevada to do their casino gambling, and that may be the main reason why revenue for the month of August dropped to $847 million.

While some casino destinations around the country have turned the corner and had revenue increases over the summer months, Nevada was not one of them. The August decline was the twentieth straight month that revenue was down in year over year comparisons.

"We have less visitors coming, but the customers that are coming, their spending is off substantially," said Frank Streshley, Chief Fiscal Analyst for the Nevada Gaming Control Board.

Las Vegas used to receive much of their high roller business from Asian patrons. There is no need, however, for the Asian gamblers to travel to the US anymore now that the Macau casino industry is booming.

Many of the US-based gaming companies already have a presence in Macau. Expansion is continuing in Macau and also in states around the US. In the US, casinos have more than doubled in the past decade, and more casinos are on the way.

October 8, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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