While people everywhere all over the world are reeling from the financial situation here in America and abroad, the casino industry is by no means immune to these hard times. With the dramatic drop of the stock market, the foreclosure scares, skyrocketing unemployment, bank buyouts, bailouts and credit crunch, the gambling industry is definitely taking a hit. While in the past, most economic bumps in the road were met with vigor and ingenuity and promptly overcome, the current financial crisis has left many casino business owners shaking their head in dumbfounded uncertainty. Perhaps more than most other industries in the nation, casinos are feeling the stress and pressure of this unrelenting cash crunch.

One place where casino operators are really feeling the heat is the state of Indiana. Casinos in this state have worked diligently to create their own special offering to the casino market – to set themselves apart from the everyday selections. For their efforts, they have been routinely rewarded with good business and a devoted following among players. However, as the economy continues to worsen, revenue numbers for 2008 are down considerably from what they were this same time last year.

Industry insiders report that the overall loss in wealth of its faithful customer base is the main cause for this sharp downturn. While the situation has not reached the point where anyone is predicting that any of the casinos will shut down for loss of revenue, they are definitely going to have to make some drastic changes in order to stay afloat during these tough times. That will mean slicing through staff numbers and maintaining shorter hours of operation.

Tags: casinos, economic crisis, gambling, Indiana

This entry was posted on Tuesday, November 4th, 2008 at 9:54 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.