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Land Casino Industry Hurting

While it is certainly not new news that the land casino gambling industry in Las Vegas is experiencing some tough times, the extent of the losses and setbacks is growing rapidly to proportions that many said was near impossible. With a recession in the US, gamblers are tightening their purse strings…and if they do decide to gamble, it certainly isn’t in the land venues but rather any of the handful of online casinos that still caters to US players. Macau has recently reported severe losses over the past several months and now the Nevada State Gaming Control Board has released some new stats concerning the state gambling figures – including specifics for Las Vegas in particular.

Though some in the land and online casino gambling industries were hopeful that the November figures would show some signs of improvement, the winnings dropped a whopping 15 percent. Also factoring into the dismal situation for the land casinos is the fact that this is the eleventh month in a row that winnings have dropped for land gambling venues in the state. 2009 is going to be a tough year for Americans and now, some analysts predict that the recession will act as a sort of spring cleaning for the land casino gambling industry – only the strongest will survive the recession…consolidation and closures will affect the others.

The sharp decline of the past year is in comparison to the 2007 fiscal year for all of the land casinos. Besides just the recession affecting the land gambling industry, competition from the “black market” online gambling industry is also taking a toll.