Casinos See Revenue Increase When Taken with Gambling

The continued problems on the destination casinos in Nevada and New Jersey appear to be rooted deeper than the entire economic picture.

The casino industry, led by Las Vegas and Atlantic City operators, is crying the blues over the commercial downturn. Previously considered recession-proof, the gambling field is experiencing revenue declines unknown in its past. But a more in-depth look reveals that different branches of the industry are feeling the consequences in several ways.

Last week, a marketing survey done by Internet specialists comScore found that the selection of US players visiting online casinos had increased by over one million from the former month, to well over sixteen million unique visitors in November. This was a rise from October of 11 percent.

Now, Louisiana casinos are reporting growth. Harrah's New Orleans Casino combined with four racinos and thirteen riverboats to usher in $215 million in winnings in November, up from $203 million last year. That number also reflects a rise from October, when the take was $208 million.

Earlier, Pennsylvania casinos reported significant gains the last year, and Mississippi had only hurricane interruptions to forestall major revenue increases there.

Florida Seminole casinos are reporting increases in revenues, as are other Indian gambling operations across the US.

The continued problems on the destination casinos in Nevada and New Jersey appear to be rooted deeper than the whole economic picture. When all markets were booming, so were the large operators, but in a more selective situation, those resorts are facing patrons finding different ways to gamble.

The Bradley Theory, developed by Online Casino Advisory head gaming analyst Sherman Bradley, foresees this disparate result. In step with Bradley, Vegas Strip troubles are as much because of change in business philosophy as world financial trouble.

"By looking to squeeze pennies from the features they used to make use of for marketing and drawing customers... meals, rooms, shows... the casino giants have drifted clear of basic gambling industry tenets. In the event that they don't seem to be satisfied with the billions to be earned through gambling, and demand on looking to add revenue streams from what need to be used as enticements, they're going to continue to lose patrons to online casinos and neighborhood gambling spots."

Published on December 21, 2008 by PrestonLewis

Read More... [Source: Native Indian Gambling News]