Not all Casinos in Bad Shape, Some Up Some Down

Casino News - July 10th, 2009 - Written by Glen

The media is notorious for spreading "bad news," while paying little attention to the good that is happening. We hear all day about how the economy is failing, and casinos are all dropping in revenue. This is not the case, not in every example at least.Regardless of where you look, it is typically the smaller casinos around the nation that are doing well with any consistency. As traveling becomes more scarce and people are looking for gambling venues closer to home, Native American casinos and state operated gambling centers are becoming more commonly used. Florida is one of the states seeing increasing casino revenues as players travel to Hard Rock Casinos scattered about the state.

MGMMirage is one of the casino companies that have been met with hard times. Through their own website, one will find an overview of their revenues brought in this quarter. Roughly $1.8 billion was collected in the first quarter of 2008, while in 2009, only $1.4 billion was brought in. This is a relatively sharp decline and has investors weary. The drop was roughly 21%, leading to concern over their CityCenter project as well as their world wide ventures.MGMMirage recently signed with outside sources in order to serruptitiously remove the chance of a complete flop.

Harrah's, on the other hand, has been doing quite well. The World Series of Poker was an excellent source of revenue for Harrah's, and it was so successful this year that entrants were actually turned away from the Main Event. Harrah's saw a startling 22% increase over last years quarterly revenue, a sharp contrast from MGM's recent failures. Harrah's increase should continue to rise as favoritism makes its mark.

Globally, gambling is still on the rise. Online gambling is taking hold over the industry at an increased rate, and Macau is quickly becoming one of the hottest gambling sites in the world. Sadly, Atlantic City is still dismally sliding into oblivion as revenues and tourism continues to plunge into the crushing blackness of potential bankruptcy.