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Wire Reports Troubles Ahead

Americans are facing troubled times and despite some early assertions that the land gambling companies would not feel the strain, recent reports indicate that revenues at the casinos are already down and may continue to drop as the market declines. Recent study and analysis of the market indicates that many Americans are limiting their discretionary expenditures as the economy continues to fall and many feel the squeeze in their wallets. The fact is, individuals are straight-out spending less at the online casinos, and land casinos, and destination travel spots and using that money to instead by groceries and fill up their fuel tanks.

Over the past year gasoline prices have continually set all-time record highs, the housing market is dismal to say the least and many Americans are facing foreclosures. Add that to rampant job losses, and the recent and serious problems in the airline industry and there just isn’t enough money in the economy to fund land and online casinos gambling to the extent of even just a year ago.

The Las Vegas Wire recently released an article covering the financial problems facing the land and online casinos gambling industry for the time being. A Deutsche Bank financial analyst commented, “Looking specifically to an individual property on the Strip, we believe a 10 percent decline in revenues, linear across the board, including room rates as well as casino play, will likely lead to an approximate 20 percent reduction in EBITDA.”

Then further impacting the land gambling industry are the Americans that turn to the online casinos for their gambling fix to save on the costs of hotel rooms, food, and entertainment – it’s just easier to use a personal computer.