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Nevada Casino Gambling Revenue Holds Steady In April

It has not been a good couple of years for the Nevada casino gambling industry. The economy hurt business, and the competition that has grown out of the recession has made it tough for Las Vegas casinos to rebound. This week, the news got even worse for Nevada casinos.

Early this past week, a report came out indicating that Singapore would overtake Nevada as the second largest gaming market in the world. Revenue at Singapore casinos is expected to pass that of Nevada casinos by the end of the year, leaving Nevada behind two Asian gaming destination. Macau had already passed Nevada in revenue a couple of years ago.

There was some good news for Nevada casinos. In April, the casino held steady, bringing in $806 million in revenue. That was only slightly off the $810 million that the casinos won in April of 2010. The drop was less than one percent, and that is good news for casinos that have seen plenty of double digit declines in recent years.

Analysts believe that May will be a much better month in terms of slot revenue for Nevada casinos. April 30th, the last Saturday in April this year, did not have slot revenue counted for April. That means that upwards of $15 million will go on May's figures. likely helping the casinos avoid a decline in revenue for May.

"These casinos are starting to see some growth again in their gaming revenue, and that is a good thing,' said Gaming Analyst Steve Schwartz. "The World Series of Poker should help drive up numbers over the next couple of months as well, so the chance for recovery is starting to look more realistic in the coming months."

The World Series of Poker has started strong in 2011. With online poker sites abandoning US players the past couple of months, the gamblers have flocked to Las Vegas to get their poker fix. Early estimates have the 2011 WSOP outdrawing last year's event by thousands of players.

The WSOP is important to Las Vegas not only for the events themselves, but for the overlap of gambling that takes place on the Las Vegas Strip. The Rio, where the WSOP is held, picks up most of the action, but cash games are packed at all Sin City casinos in the months when the WSOP is taking place.

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