While the industry of online casinos continues to gallop ahead into the sunset, the same cannot be said for land-based gambling operations such as those located within Las Vegas. Most recently, one of the top gaming leaders in the heart of Las Vegas, Station Casinos Inc., announced that their second-quarter loss in revenue increased by a substantial amount.

This revenue decline is directly related to the Chapter 11 bankruptcy reorganization that came about at a price tag of just about $38 million. This is definitely a hard road for many land-based gambling operators to go down and Station casinos has definitely not managed to stay immune to these financial woes. In addition to the bankruptcy reorganization for Station, the intense competition posed by online Casino gambling sites has definitely played a major role as well.

Sometimes it is just simply too difficult of a task for land-based casino operators to be able to compete on the same level with operators of online casinos. From this quarter, Station reportedly lost an astonishingly bleak $69.6 million. That’s nearly 4,000,000 more than the company lost back in the second quarter of 2009.

Overall, net revenue dropped 12.6%. Many people within the gambling industry looked toward recession as one of the main contributing factors for these tough financial scenarios. Everybody’s trying to figure out when and where and how S. solid and feasible economic recovery is going to take place. Sometimes, when we get news like this, it still feels a long ways off. Hope fully the 18 Las Vegas area casinos, restaurants, entertainment venues, and hotels associated with this company will be able to get back on track sometime in the near future.

Tags: las vegas revenue, station casinos inc.

This entry was posted on Thursday, August 26th, 2010 at 5:34 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.