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Casino Gambling Revenue Decline Continues in Nevada
LAS VEGAS, NEVADA --
Despite assurance from the President that the recession is ending, Las Vegas casinos and gambling operations reported a continued downward spiral in gaming winnings in September. According to the Nevada Gaming Control Board, casino revenue was down nine percent from the same month last year.
The drop was a slight improvement on the fiscal year thus far, which, a quarter of the way into the year, shows gambling winnings by state casinos down 10.2 percent.
Amounts bet by patrons did not drop as sharply, falling only 4.2 percent from the previous September.
The popular boxing match in September featuring Floyd Mayweather was credited for helping Las Vegas Strip casinos do better than state averages, as Strip gambling venues reported only a 3.6 percent decline for the month.
The fight was especially useful in drawing high-roller baccarat customers, a game whose popularity is growing even while total gambling is in a deep decline. Baccarat play rose almost 30 percent in September.
Analysts said the struggling gambling industry has led to high unemployment in the state, contributing to poor gaming results at casinos devoted to local residents and other, less touristy locations off the Strip.
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Recent Comments
| Posted by JPA on 12/03/2009 04:41:24 PM EST |
| Brian, if you read an answer would be great: what was your source on the statement that the Mayweather fight helped Strip casinos do better. Do you have hard data? Thank you! |
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