While it took a little longer than many people expected, the economic crisis that has taken hold of the nation has made an intense impact on the city of Las Vegas. All across the entire globe people everywhere are feeling the pinch of the current recession. Some folks claim that it is more than a mere recession that it is on par with the woes of the Great Depression. Through past ups and downs in the national financial situation, Las Vegas has had a good deal of luck on its side to more often than not have complete immunity from any such hard times. But now it seems as though its casinos and hotels are struggling to bring in the normal numbers in terms of players and visitors. People have less and less money to throw around. And many people are option to stay at home and play at online casinos if they really have a gambling itch they need to scratch.

A handful of the big gaming companies that operate in Sin City have borrowed vast sums of money and thrown around a lot of cash in attempts to up the ante of what they have to offer and bring in more business. Many of them have failed in this respect and revenues have dropped almost across the board.

Many economists are viewing the city of Las Vegas with a look of pity as the number of visitors has dropped sharply and consumer spending is coming in very low. In November of 2008, the number of tourists who flocked to the strip sunk by 10%. In turn the casinos in the city saw their profits decline by a staggering 57%. With all of these hardships it would seem that the entire gambling industry would be in the toilet but online casinos are going strong. Who knows what the future holds for Las Vegas?

Tags: las vegas economy

This entry was posted on Sunday, March 8th, 2009 at 3:47 pm and is filed under Las Vegas Casinos. 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.