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Crises Moment Nearing

The land casino gambling industry in the United States is nearing a crisis moment as quarterly profits continue to drop dramatically and many of the major casinos and resorts ponder just how long they can stay in business if the recession does not let up soon. The online gambling sites all over the world haven’t really been affected by the recession – very mildly compared to the crippling effect that the slowing economy has had on the land gambling venues all over the world, but very specifically in the United States. Las Vegas has reported huge losses for months now and Atlantic City is now joining the chorus – fourth quarter operating profits in Atlantic City dropped a shocking 45.8 percent.

The land casinos are really at a loss for how to counter all of the losses and entice gamblers back to the land resorts and gambling venues. With job losses still rampant and the economic future of the US still uncertain, would-be gamblers are staying home and either saving their money for groceries and necessities or spending their small discretionary income at the online casinos where costs are lower because gamblers do not have to pay gas to visit the establishments, nor buy food and alcohol.

The forth quarter results have land casinos worried, although the operating profits have been dropping throughout the year as a result of the economic recession, this is the first quarter where the drop was quite so large. The full-year report indicates that gross operating profits decreased 25 percent – still fairly dismal results but better than the fourth quarter drop of nearly 46 percent. There is no word yet on how land casino venues plan to counter the severe drops in revenue.