Casinos In Good Shape Overall But Performing Poor Individually

Gambling News - July 7, 2009 - Written by Glen

Amongst gambling fans it is common knowledge that casinos around the nation have been suffering. This is only partially true, as misconstrued statistics can lead one to believe anything

On a case by case basis, casinos have been showing hardships. Most of the financial stress has been in the major gambling hubs, Vegas and Atlantic City. Bankruptcy is a common theme amongst casinos in these areas, and some of the larger names have either been through the process or come close. Tropicana Las Vegas recently had to file bankruptcy was sold to different investors. Atlantic City saw three closures, and thousands of jobs lost.

The continued trend of the hurting casinos has impacted other facets of life as well. Tax revenue from many casinos funds different state initiatives, usually education and the like. This revenue has disappeared in some places, as well as a great deal of jobs. On a nationwide scale, however, casinos are in relatively good shape.

Looking at the figures chronologically, as per the American Gaming Association's 2008 figures, casinos generated $32.5 billion dollars. This was a 4.7% cut from the previous year, which is widely regarded as the year with the highest revenue ever. Having set a record, it is not unlikely that figures will fall just somewhat in comparison to previous years.

Unfortunately, any loss is looked at as a heavy one in today's tough economy. Tax revenue was at $5.7 billion, down from $5.8, which is hardly a decrease what so ever. If 2009 finishes with similar statistics to these, it is safe to say that casinos are not in as bad of a place as pundits would put them off to be.

Arguably, the only short comings in the casino industry come from Atlantic City and Nevada. The rest of the states have been increasing gambling options and have been seeing more people gambling in their area, rather then traveling half way across the nation to throw the dice.