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The Las Vegas Strip is known all over the world as one of the top destinations for land and online casino players looking for the glitz, glamour, and some of the best entertainment on the globe. All of that is changing though thanks to a slowing U.S. economy and threats of an impending recession. Although Las Vegas is a hot spot for destination travelers as well as American gamblers, a large portion of the land casino revenues come from U.S. gamblers. With the housing marketing still slumping, gas prices setting new record highs every week, and less disposable income than ever before, gamblers would rather head to the online casinos rather than the Las Vegas Strip as a way to cut costs and save money.

The J.P. Morgan analyst group has predicted dire year-end figures for the land casino gambling industry in Las Vegas. Although the land casinos were optimistic about surviving the recession with flying colors, it now looks as thought the gambling companies will see some of the lowest figures and revenue in the past seven years. The land gambling industry saw a large dip in gambling after the September 11th terrorist attacks, and J.P. Morgan predicts that company share prices will continue to drop over the next several months.

Analyst Joseph Greff commented on the usually lucrative summer land casino gambling industry, “We expect this summer to be one of the worst on record, with meaningfully discounted room rates and special discounted package deals.” On top of that gamblers are turning to the online casinos to save on gas, so even special hotel rates can’t combat the high price of flights, food, and gas. Companies like the Las Vegas Sands are offering some of their deepest discounts to-date on rooms and suites at the hotel resort as an incentive to hopefully drive more traffic to the company’s casino.