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Land Casinos Hurt Too

The industry media has really paid a lot of attention lately to the fact that the online casino gambling industry has been feeling some of the pains of the slowing gambling economy. Well, the land gambling industry is actually a whole lot worse off, at least in the US. The online casinos that have lost their US markets have been anticipating this for some time, so the loss of money and gamblers is less of a shock and surprise. The land gambling venues on the other hand are having a very hard time keeping doors open if the industry land gambling industry in the US continues to decline so rapidly.

Las Vegas is the center of the US land gambling industry – the place is an icon and while there are other gambling hubs in the US, Vegas is the pulse beat of the industry. In the past two years many of the land casinos in Vegas were already leery of the spread of the online gambling industry, but few of the companies were prepared for the effects of a US recession. According to recent figures out of Nevada, the hotel occupancy rates have slid downward again since September hit and gaming revenue for the casinos is down a whopping 25.8 percent from the same time last year.

The decrease in gambling activity and money earned by the hotels and casinos on the Vegas Strip is bad news for some employees – although many of the venues have already laid off a fair percentage of their employees, more layoffs may be imminent if the decline in profits continues.