Nevada Casino Revenue Drops Over Ten Percent In October

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Although the recession has been coming to an end in the US, that does not mean that people are running back to their local casinos. The biggest casino gambling state in the nation, Nevada, has their casinos still experiencing large declines in revenue.

The latest bad news came from the Nevada Gaming Control Board. Revenue figures for the month of October have been released, and there was a drop of over ten percent from the same period the previous year.

Revenue dropped to $800.3 million in October of 2009. That represents an 11.6% drop from October of 2008. Revenue has now dropped at Nevada casinos for the twenty-second straight month, not a trend that casinos want to continue.

"While the economy is slowly recovering, it will still be a while before people start having the expendable income to begin gambling regularly in Las Vegas casinos," said Gaming Analyst Steve Schwartz, "They will come back, just not yet."

The drop in revenue at Nevada casinos is not a good sign for the state. The casino industry in Nevada makes up a large portion of the state's income, so it is no wonder that while the casinos are struggling, so to is the state of Nevada.

Senator Harry Reid has been busy at work lobbying for Nevada casinos in Congress. Reid has opposed recent legislation proposals to regulate Internet gambling in the US. Some of the companies based in Nevada, however, have opened their minds to the idea of online gambling.

Harrah's Entertainment has already launched Caesars Casino Online, although they have yet to accept US customers. The casino has all of the same table games that would be found in their land-based casinos, but lacks a majority of the popular slots.

December 10, 2009
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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