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Huge Cancellations Prevent Profits

The land gambling industry has been one of the industries hardest hit by the current economic recession, particularly in the United States. Land gambling companies have the ongoing complaint that the online casinos have taken a large portion of the land industry’s potential business – really though the economic strain in Las Vegas and other gambling centers is caused by several reasons but chief of which is the fact that long-distance travel is down and destination travel to expensive venues like Las Vegas are out of fashion. Not only are the individual US gamblers avoiding Vegas and the major land casinos, but according to recent statistics companies unrelated to the land and online gambling industry have cancelled an alarming number of conferences – as many as 402 in just the past six months.

The Las Vegas Convention and Visitors Authority have announced that between October 2008 and March 2009 402 conferences that were on the schedule were canceled. The cancellations do not reflect on the quality of the Las Vegas Convention Centers, but rather reflect on the caution that is being exercised by all industries and businesses as a result of the recession. President Obama has specifically come out to note that business claiming vacations and conferences to go gamble at the online casinos in Vegas will be investigated for their write-offs and their decision to use that much money to fly all of the participants to the gambling Mecca.

Now, businesses are using caution and the PR side of the companies are warning the corporations to lay low while the recession is in effect – this means trips to the land casinos are out.