Nevada Casino Revenue Drops For Fifteenth Consecutive Month

Atlantic City and Nevada are two states where experts used to believe that the economy did not matter. Regardless of what state the economy was in, people were going to go to casinos and gamble.

That is no longer the case in either historic casino location. Nevada reported a casino revenue decrease for the month of March, and it was the fifteenth straight month in which revenue decreased.

"There is really not much more room for declining revenues," said observer Lawrence Versate, "The companies that run these casinos are at the end of their rope, and many more months like this could send some of these companies into financial ruin."

The March numbers, while bad, were actually better than in previous months. The decline in March was only 11.6%. The five months before that had an average revenue decline of 18%. Casinos in Nevada still had winnings of $918.2 million in March.

The Las Vegas Strip was one of the areas that was hit the hardest. Their revenue decreased by 12.3 percent. North Las Vegas casinos had an increase in revenue of 9.7%. Other areas of the state also had revenue decreases.

Slot machine gambling is still the driving force behind the revenue. Slots accounted for $647.3 million, while table games accounted for the rest of the revenue.

May 9, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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