Casinos Feel Heat From Bad Economy

May 12, 2009 - Written by Meagan

Gambling revenues from Casinos in Las Vegas and Atlantic City plummeted after the economically troubled U.S. citizens stopped their spending on gambling. Money From Gambling on the strip went down three percent to $468.4 million in June in the US, causing the first decline in the last six years, the Nevada Gaming Control Board said last week.

In Atlantic City people bet 6.6 percent less, or in other words $438.7 million during the month of July, the 14th decline in the last 16 months, according to The Casino Control Commission in the state of New Jersey. The downward slope at the two biggest U.S. gambling places has begun to have an affect on the companies that profit the most from them. The downward motion in Las Vegas caused Boyd Gamin Corp. to suspend consrtuction of it's Echelon Strip Resort Development which costed around $4.75 billion. And they were amoung several companys that delayed projects due to the economic slump, USA casinos are feeling it all over.

Las Vegas Strip revenue was down for the sixth month straight, and the casinos and the companies that profit from them are really feeling the heat.