Vegas Strip Struggles in Recession
12th December, 2008
The gambling industry as a whole has throughout history demonstrated a strong resilience to economic pressures. However the events of the last year have resulted in a huge consumer cut back in spending which as effected the revenues made by even Vegas's biggest casino's.
It has been reported that revenues on the Vegas strip fell 26% in October as the cut back in consumer spending took its toll on the Nevada city. Ten consecutive months have seen falls in revenue and its certainly a tough time for all in associated with the industry.
Overall Nevada gambling revenue was estimated to have fallen by 8.3% in the last year.
Las Vegas isn't the only City to have felt the full force of the recession with Atlantic city in New Jersey also reporting a 7.8% drop in net gaming revenues when compared to last year.
In addition land based casino's have had the withstand national smoking ban's, the growth of online gambling and increased government taxation.
By Jamie
