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March Madness Brings Gambling Frenzy
LAS VEGAS, NEVADA --
With the release of the NCAA basketball tournament brackets, the craziness of March Madness begins in earnest. The first week of games is the busiest week of the year for Las Vegas casinos, both in rooms occupied and gambling revenue.
Having seen earnings per room plummet over the past year, Vegas resorts and gambling venues are looking to sportsbooks to get things fired up, possibly stoking the casino industry to the beginning of recovery. For the first time in months, rooms will be filled without casinos having to basically give them away.
Although room occupancy has remained fairly high at the big casinos, much of the business has been generated by promotions and discounts. Resorts that previously could fill at seemingly any price have found themselves seeking budget gamblers to fill their lonely halls and gaming floors.
But casino insiders hope that March cures all ills. While the actual gambling on the basketball represents only a small portion of casino gambling income, the players who come to enjoy betting on ball games are the same that fill blackjack and roulette tables.
For the next fortnight, Las Vegas will either be treated to a tantalizing view of the first steps beyond the economic recession, or find gut-wrenching disappointment in a failure to materialize expected crowds. Casino gambling experts are betting on the former.
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