Tough Economy Shuts Down A Sinatra Casino Favorite In Nevada

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Frank Sinatra and his Rat Pack friends were the coolest people on the planet back in the late fifties and early sixties. The Cal Neva Lodge was one of the group's favorite hang outs back then, and Sinatra even owned the resorts for a short time.

On Wednesday, the Tahoe resort closed its doors. The tough economy combined with the increase in competition forced the casino to close shop. While it is shocking that a resort, once so popular among the stars, is closing, some people are not so surprised.

"The realities are when you have that kind of decline the weakest operators typically get pushed out," said William Eadington, Director of the Institute for the Study of Gambling and Commercial Gaming at the University of Reno, Nevada, as reported by The Associated Press. "The older, tired casinos, and the Cal Neva is a great example, don't have much to offer for gaming."

Back when the Cal Neva was one of the hottest spots on the planet, many of the casinos in Nevada were privately owned. The private casinos gave way to corporations, and Nevada was transformed into a glitzy playground. The older casinos have had a difficult time trying to compete with the new resorts that have been built in the state.

In addition, casino expansion around the US has increased drastically in the past two decades. Almost every state now has some form of casino gambling, eliminating the necessity of gamblers to travel to Nevada when they get the itch to play casino table games or slots.

Casinos in Nevada have experienced a massive drop in revenue over the past two years. The Rat Pack's other top partying destination, Atlantic City, also is watching their casinos struggle since the economic recession.

April 1, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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