Nevada Casinos Continue Gambling Revenue Climb In April
Nevada casinos have spent the past few years battling through an economic mess. Revenue has consistently fallen over that time frame in the second largest gaming destination in the world, and several casinos did not make it through the storm. Now, revenue has finally started to stabilize for the casinos.
In April, gaming revenue was up six percent over the same period in 2011. The total revenue for Nevada casinos equaled $856 million. Las Vegas Strip gambling fared even better, increasing seven percent, to $459 million in April.
"What we are starting to see is a recovery period for the gaming industry on a whole throughout the US," said Gaming Analyst Brad Dawkins. "Nevada has always been the trendsetter for the industry, so the improvements Nevada is seeing in recent months should start a firestorm throughout the country moving forward in 2012."
The new year has been a breath of fresh air for casinos, with revenue increasing in areas such as Pennsylvania, New Jersey, Mississippi, and Louisiana. The Gulf Coast is not only recovering from the recession, but also from Hurricane Katrina back in 2005. Louisiana casinos were hit the hardest by the storm, and a couple casinos had to close their doors for good due to the damage.
The rest of the country has been attempting to dig out of the 2008 economic recession hole for the past two years. New Jersey, once the second largest gaming destination in the US, has relinquished that title to Pennsylvania. Lawmakers in New Jersey have passed several new bills to try and kick start the gaming industry.
Among the most popular fixes for casinos, is a push to regulate online poker. New Jersey did not stop at online gambling. Residents approved sports betting late last year, and legislators are gearing up for a federal court battle over the legality of a 1992 law that prohibits sports betting. Senator Raymond Lesniak has been the strongest sports betting proponent, and recently Governor Chris Christie has thrown his support behind the additional form of gambling as well.
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