Nevada Casinos Continue Revenue Slide In April

The saying goes that the bigger you are, the harder you fall. That is certainly the case in the casino gambling industry where two heavyweights, Las Vegas and Atlantic City continue their slide from the top of the mountain.

The Nevada Gaming Control Board on Friday released revenue figures from the month of April. Although state casinos still won $859.4 million, it was the sixteenth straight month that revenues have decreased.

The drop off in April was 14.1%. In April of 2008, Nevada casinos cleared $1 billion. The increase in competition coupled with the economy is crippling Las Vegas these days, causing concern among casino owners.

"This continues the trend of people spending less," said Control Board Analyst Frank Streshley, "We're slowly seeing less cancellations, and the weekends are getting stronger. But the midweek market is still a challenge-and the people who are coming are spending less."

There is an ongoing casino boom around the US that could be contributing heavily towards Nevada's revenue decline. Many states have expanded their gambling laws and are building casinos. That is giving gamblers the luxury of not having to leave their hometowns to find a casino.

Atlantic City on the East Coast, and Las Vegas on the West Coast, used to be the only places where big casino resorts could be found. Now, however, more than half of the states in the country have some form of casino gambling.

June 5, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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