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Las Vegas Casinos See Greater Decline in Gambling Revenue for 2010…

11 March 2010 by Devon Chappell

Oh Las Vegas I feel your pain! But then again, I don’t feel the pain of your hotheaded governor who recently threatened President Obama after he spoke to a group of high school seniors and urged them to save money for college rather than gambling it in Las Vegas.

So yes, Las Vegas continues to lose gambling revenue. Ever since the unofficial recession started, Las Vegas has experienced a gradual decline in the money it takes from people. Look, I completely understand that in order for Las Vegas to continue being the “playground” it has become for adults over the years, it needs a whole lot of money coming in. But you know what? Las Vegas isn’t going anywhere – and the loss of revenue really isn’t that big of a loss.

January 2010 saw a 3.2% decrease in overall revenue compared to January 2008. Granted, 2008 was a loss from 2007, and all but one month in the last two years has seen an increase in revenue. But still, that revenue came in at $888.3 million for the month of January 2010. Needless to say, business is still good.

Casino operators and the Nevada Gaming Control Board would certainly love to see Las Vegas faring better, yet, they know things aren’t going to overnight. Referring to January 2010 as a soft month, the Gaming Control Board says they are expecting an even larger decline in the coming months this year. There is a light at the end of the tunnel, however. And that, my friends, is the World Series of Poker, which makes its way into Vegas during the Summer months.

That said, I have something to say to Las Vegas. Dear Las Vegas, maybe if you hadn’t fought against regulating online casino gambling all those years, you wouldn’t be in the fix you’re now in. And let me remind you that WSOP is primarily fueled by the online poker industry. You can thank the PPA later for saving your ass this year. And don’t go blaming the economy either – cough, cough Project City Center, cough, crazy condo developers – for the Pennsylvania gambling industry has seen increases in revenue. Sure, Atlantic City is going bankrupt, but that’s what happens when you let Donald Trump open a casino. Oh wait, Trump recently set up shop in Vegas, did he not? 🙂

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