While it was a relatively heartening month that fostered a great deal of optimism in terms of the hoped-for Nevada gambling revenue, when reports came out for the financial figures for the performance during the course of the month of March, that hope was greatly diminished. The new numbers, recently released by the Nevada Gaming Control Board, indicate that a sharp decline in gambling revenues took place across the board.

While the actual decrease amounted to less than 1%, this is still is not a reassuring sign for many major movers and shakers and operators within the land based casino industry in the state of Nevada. While the continuing economic recession seems to be one of the main triggers for this decline, the competition with online casinos remains a center role in this particular development as well. Online casino gambling sites have been relatively immune and have come through this financially troubling time relatively unscathed.

The same cannot be said for land based casino operations based within the state of Nevada. Both visitor numbers and casino revenue for Las Vegas and many other gambling locations throughout the state of Nevada have been in a sharp decline for quite some time. They simply cannot compete with the flexibility and convenience that online casinos supply. Overall, the first quarter of 2010 brought about a 3% increase in statewide revenues and a 9% increase on the Las Vegas strip. All in all this is a good start, but it could be much stronger. They are still far away from where they were just a few short years ago but so far 2010 holds a great deal of promise.

Tags: las vegas, nevada gambling revenue

This entry was posted on Tuesday, May 18th, 2010 at 11:17 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.