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Still Sinking in the States

With the US economy tanking just a bit more everyday it is little wonder that the Nevada Gaming Control Board is reporting some dismal numbers in terms of gambling revenues and the number of gamblers even making the trip to Las Vegas to gamble period. Las Vegas has suffered severely from the downturned economy because destination gambling is one of the first luxuries to go for many casual gamblers – instead they head to the online casinos. And then, for the gamblers that do go to Las Vegas, they are spending and losing less at the casinos than in previous years. Each month shows a significant decrease in the numbers and the Control Board that this is the eighth month in a row that statistics are down.

The most recent figures released pertain to August’s performance – a month that would traditionally see some highs are the summer comes to a close and the gamblers take an extra week to have fun at the casinos. Once again though, gamblers are searching out the handful of online casinos still servicing the US market and forsaking the traveling until the economy recovers. As for the specific statistics related to the eight months of down time, Nevada State Gaming revenues on the whole have decreased a whopping 6.8 percent.

And while that may not seem like such a large figure, this means a huge increase in unemployment in the state as casinos are forced to layoff employees and scale back hours for the remaining employees. Additionally, this is the largest decrease in gambling revenues in decades and it has many wondering when Las Vegas will see a reprieve from the depressing figures.