Nevada Continues Gambling Revival In February
The economic recession is getting farther and farther in the rear-view mirror for Nevada casinos. The casinos posted yet another positive month in February, giving hope to the idea that the casinos will make a full recovery sometime in 2013.
In February, revenue at Nevada casinos rose to $932.2 million. That figure is up almost six percent from the same period in 2011. Casinos on the Las Vegas Strip had a smaller increase, with revenue rising 3.3%, to $530.7 million.
The difference between the growth in February and the past couple of months is the diversity. Baccarat had been driving revenue figures the past few months, but the gambling revenue in February was seen across the board, from baccarat, to blackjack, to slots. The baccarat revenue actually dropped almost 20% in February.
"This is the type steady growth that Nevada has been looking for over the past several years," said Gaming Analyst Brad Dawkins. "In recent years, the casinos have had a good month, followed by a bad month, so there has been no momentum built towards recovery. Now, we are starting to see Nevada casinos string together a few good months in a row, and it is making a difference."
Nevada is going in the opposite direction of New Jersey. While Nevada casinos are starting to see the light at the end of the tunnel, Atlantic City casinos continue to struggle. New Jersey lawmakers are attempting to help their ailing gaming industry by regulating sports betting and online gambling.
Nevada lawmakers have also passed laws regulating online gambling, ensuring that they will be among the first states to offer their residents regulated online poker. The race to open the first online casino in the US has come down to Nevada, New Jersey, California, Florida, and Iowa.
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