Casinos in USA Continue to Struggle

Casino News - November 20th, 2009 - Written by Glen

The casino gambling market in the United States has been suffering throughout the recession, and many analysts claim a bottom has been hit. While this may ring true for some locations, others are barely staying afloat through debt. Throughout the past few months, many casinos have seen defaulting loans, bankruptcy cases, and restructured corporate economies.

The worst affliction hit Atlantic City. Atlantic City casinos have been filing bankruptcy, changing ownership, and even signing contracts with unions to maintain employees and fixed salaries. It has been announced that one of New Jersey's earliest casinos, Resorts Atlantic City, is changing ownership back to their lenders.

Casinos in Las Vegas have also taken a hit, though not as severe as Atlantic City. Las Vegas's third quarter results showed a 5.5% slip over the three month period, which was less harsh than their second quarter dip. Despite tough times, Las Vegas revenue is expected to recover over the next year.

Foxwoods Resort Casino, the largest casino in the United States, has recently defaulted on a loan. Their last financial year provided them with hundreds of millions in profit, so many are left to wonder why a default had taken place. While the casino will not be disappearing from the market, it is likely that a restructured debt is on the horizon.

While most of the major gambling ventures around the nation have been suffering, two forms of casino gambling have yet to take significant blows to their revenue. Smaller casinos in states that many people are unaware even have casinos have not suffered as bad, nor have the best USA online casinos. Both the lesser known casinos and the online casinos have remained fairly consistent in their revenue, as is the case with those casinos in Missouri and the RTG online casinos that are spread Internet.

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