While the industry of online casinos marches forward at a healthy pace, the casinos within the state of Nevada are not faring quite so well. For the second time in history, casinos within the state of Nevada posted a loss. And this time around the lost was super substantial. Online casino sites have managed to come through the current economic recession and financial crisis relatively unscathed, but the same cannot be said for the land based casinos within the state of Nevada. Just recently the gaming control Board releases dated report for the fiscal year of 2009 that indicate a net loss of $6.7 billion for the 260 biggest casino operations in Nevada. This comes as a staggering blow to an already fragile state economy that has seen better days in the past.

While online casinos have, for the most part, derived, the same cannot be said of the land based casinos located within the state of Nevada. The president of the Nevada resort Association described 2010 as a program this year for many of the casinos located with in the city of Las Vegas.

One of the ways that some of the casinos have been dealing with the financial setbacks has been to move forward with as many as three or four waves of layoffs. Layoffs are seen as one of the main effective ways that remains for cutting costs. The hope at this point is that the layoffs will be temporary until the nationally and locally economy is able to push forward into some sort of semblance of a recovery. But that may still be a long ways off. The one place where sales did not decrease was in the sale of liquor. Sales for our all apparently increased by 2.5% even as revenue associated with casinos, hotels and restaurants sunk.

Casino winnings-related revenue within the state of Nevada are down 13.7% for the 2009 fiscal year so far. This does not bode well for the many different related business on the Strip and for all the thousands of employees who are hanging onto their jobs by a string. The casino winnings so far are down in Las Vegas to somewhere just below $10 billion, and while that seems like a lot of money, compared to what the land-based casinos in this town are typically capable of, this is not too good. And this blow hits especially hard since it seems as though there is still no stopping the rise and total domination of online casinos across the country despite all of the legal ramifications (ineffective though they may be) that are in place. Online casino sites continue to surge ahead of their land-based counterparts in a big, big way.

And the people who run things in Las Vegas have been doing seemingly everything in their power to push for different ways to bring back some of those players and of course some of that missing revenue from the grip of online casinos but it has proven to be quite a bit harder than it seems.

Gamblers are still making plenty of wagers down in Las Vegas casinos, especially when it comes to hitting the slot machines, but the numbers are still just not what they should be at this time of year. It is the summer season and business should be charging ahead and going strong and at full blast but that is just not the case. Who knows what will happen come the fall season. You can bet that casino operators will be doing their darnedest to bring in more numbers with exciting events, but it may not come together as they would like. The economy is not helping the matter at all.

While business is holding strong and steady for online casinos, it seems that their relative, the land-based casino, even in hot gambling destinations such as Las Vegas, is not performing so well. Visits to the famous strip have tapered off somewhat and the revenue for the casinos in the city are down in a big way compared to where they were this same time last year in 2008. The number of visitors coming into Las Vegas has declined by 8%, dropping down from the 3.1 million people who were drawn to the bright lights and glamour of Vegas all the way down to 2.8 million visitors for this year during February. Over the course of the entire year, there were some 5.6 million visitors to Las Vegas casinos right around this time whereas there were .2 million guests to the strip just one year ago.

If you were an investor, it would seem the smart thing right now to pull your money out of land-based casinos and stick it into some online casinos in the business. Although the online casinos sites are facing serious battles with the Unlawful Internet Gambling Enforcement Act in place, they are still not only surviving but actually thriving.

The airline business for people coming and going from the City of Sin has also declined by about 15% as far as 2009 is concerned so far. One bright spot in all of this is that the vehicle traffic coming up to Las Vegas casinos from Southern California has gone up by 1.2% compared to what it was this same time last year. While that not be much, it is important to find something positive to hold onto.

In order to stay on top of the game throughout the year of 2009, the folks at AsianLogic have recently announced that they will have to increase capital expenditure in huge amounts in order to hold onto their top line revenues. This development has come along as a result of the increasingly troubled world economy. They are having to take somewhat dramatic steps in order to ensure the success and survival of the company. Many online casinos and others in the business have had to take a series of big and sometimes harsh steps in order to maintain a sense of balance in such challenging and financially unsure times.

While they did revise their expectations and the trading reports have come in and shown to fit more or less along the lines that the revised reports indicated, they nonetheless need to move forward with this increase in capital expenditure. If you play at online casinos, you may not have picked up on the subtle changes that are affecting people across the board who are involved in all aspects of the casino business. AsianLogic is not alone in their efforts to smooth things out and try to stay afloat in the online casino world. But luckily, this form of gambling has fared much better than that of land-based casinos. They are having a really hard time getting their footing in this hostile economic environment.

The full year pre-tax profits for AsianLogic have come in at around $7 million (U.S.) Officials at the company are hoping against hope that through a series of strategic moves, they will be able to maintain the integrity and overall strength of their business to stay the course during these difficult times.

Despite the excitement and goodwill afoot surrounding the construction of the CityCenter in Las Vegas, the financial hurting that is happening all around the country is not staying away from the city known for sin. Even though the people behind the CityCenter project estimate that the structure will bring in some 12,000 jobs, about 6,000 of those jobs are actually jobs that people already hold so the job-generating notion of the project has been overstated a bit. No matter what, the jobs they are going to be finally able to create will be nothing compared to the job cuts that are happening everywhere.

Officials from the CityCenter project say that they are going to receive somewhere around 150,000 job applications. This is the trend everywhere. With people spending less time in land-based casinos, like those that line the main street in the heart of the city of Las Vegas, it seems more people are playing at online casinos. Even well-established business are having a hard time. And job-seekers are everywhere and they will take anything they can get and leap on every single opportunity that presents itself. When In-N-Out send out word that they would be looking to fill 50 positions at their latest Las Vegas store opening up, about 1,000 different people came to apply for the jobs.

It is harder and harder for everyone. No employer wants to be cutting jobs when times are this hard and many are doing everything they can to try to stave off those kind of moves, but even as a last resort solution to lower funds, it is happening all over the place, even in casinos. With all of this free time on people’s hands, it seems that this situation, however dire it may be for those without work or any job leads, it will be alright for online casinos.

While the national economy continues to roll around flailing in the ditches, there is one bright spot in the business world and that is when it comes to the success of online casinos. But in actuality, it makes perfect sense that a poor economy would bring more people into the world of gambling, particularly online gambling. Internet gambling is a fun pastime and more than that, it is an escape from the droning mechanism that is daily life for many Americans. But while the online casino business has been built up, at the very same time, the revenue for most land-based traditional casinos has shot down sharply in recent years.

This shift for land-based casinos is easy to understand as well. The casino industry, particularly in traditional big-cit gambling destinations like Las Vegas and Atlantic City has seem a quite a fall from where they found themselves just a few years ago. An example of this shift can be found by comparing the numbers of the industry devoted to online casinos versus traditional gambling venues during the fourth quarter of last year. During that time, online gambling sites saw their player traffic increase by somewhere around 30%. Back in 2007, the player traffic numbers fell by nearly 30%. What this means is that within a span of only one year, there was a nearly 60% turnaround.

Leaving one’s house to visit a land-based casino is becoming an increasingly unsavory option as it comes with all sorts of additional costs like gas money (which is shooting back up) drinks and food and tipping for waiters and dealers and more. It makes sense, in this respect, to just go ahead and stay indoors and get in on some exciting casino gaming right from the comfort of one’s own home.

As the economy continues on its deep, dark downward spiral into a black hole abyss, many companies and different sites within the online casino and gambling community have taken a hit. And sadly, some operations have been hit so hard that they no have no hopes of being able to recover even if things were to pick back up tomorrow.

One of the sites that has fallen by the wayside and has been forced to go down this depressing road is Zosoz.com. This website was built up around the notion that involved players paying a subscription fee so they would essentially buy in to their playing. For just $19.99, players could sign up for the awesome atmosphere at Zosoz.com. Doing so would give them the chance to play in some fabulous high stakes poker tournaments all during the year.

While the idea was at first embraced by the industry for being innovative and almost regarded as a sure thing that couldn’t possibly fail, the site has recently called it quits and shit down for good. Unfortunately, the idea that was lauded for being inventive and a little bit different did not gain the level of popularity that everyone had previously predicted. And it was only up and running for two short months before it met its end.

The people responsible for the site unfortunately did not end up giving any sort of reason as to why they had decided to leave the online gambling market so suddenly. Luckily for the people who had signed up for memberships, the people at Zosoz.com promised that all players who had paid for a subscription would receive a refund for their memberships.

Just like the economy in most parts of the nation and several locations around the rest of the world, the financial situation in Las Vegas has seen better days. Unemployment has risen to alarming new heights and people are finding themselves with less and less disposable income to lay down for a sizzling weekend in Vegas. The Gaming Control Board released a report that showed that casino revenue had sunk each and every sing month for this year, compared to last year’s numbers. In total the casino revenue for the state of Nevada has decreased 8.3 during the course of 2008.

But many officials and academics are saying that it is not yet time to get everybody in a flustery panic. Like any other business, there are going to be some highs and some lows. With the economy operating in a cyclical pattern, this is just part of the course that it has to run. It is quite natural and sometimes people jump them gun and leap to frenzied panic instead of remembering that this is a normal journey for the economy to take.

Although casinos should definitely be careful not to ignore the glaring status of their shrinking revenue, it is entirely too risky to go around cutting costs that would potentially have a negative impact on their customer base. These are the kind of considerations people need to take into account. It is incredibly tempting to casino operators who are experiencing a crunch time to cut costs wherever they can, but in the long run making those kind of decisions right now will not be too helpful or worthwhile. The last thing they want to do in these vulnerable times is to alienate their base of customers.

It is now official. The National Bureau of Economic Research has declared that the economy within the United States embarked on a substantial recession back in December of 2007. The bright lights and glamour have been far from immune to this financially sensitive time. The sharp downturn has resulted in many hotel operators having to make unfortunate cutbacks. And the worst is not yet past us.

At the very end of September, officials from several casinos along the strip reported that as many as 3,200 people had lost their jobs. And the numbers for the months of October and November look to be no better, but as of yet, we are still waiting for those numbers to be released.

There has been a considerable effort made to keep the layoffs limited to as few as possible, especially as we approach the most tender and vulnerable holiday season in recent memory. Some operations, such as Harrah’s Entertainment are trying to cut costs through other means like restructuring their departments so that they are able to keep on as many of their employees as possible. Another setback for many of the employees in Las Vegas is that a few casinos have gone so far as to end the 401K-matching programs they had previously had in place for their employees as a way to save some money.

One casino that has taken this seemingly drastic step is Station Casino. They say they were forced to perform this action as a cost-saving measure and call the halt on 401K matching only a temporary suspension. They do not think it will be in place indefinitely.

As the stocks of corporations in Las Vegas and across the nation continue to plummet to dangerous lows, many shareholders are getting very anxious and concerned about the situation. But they have found a way to voice their frustrations toward these sad financial developments in the form of lawsuits. Two Las Vegas Sands Corp. shareholders are actually suing the corporation for gross mismanagement and an assortment of other allegations.

Just last week, the stock price for Las Vegas Sands Corp. closed out for the day at $4.64 on the New York Stock Exchange. That brought it down 39 cents which was 7.75%. As a popular and extremely successful company, Las Vegas Sands has lost much ground in terms of being able to retain much of its solid reputation. It has now become the victim of many jokes. Obviously those jokes are told by people unaffiliated with the corporation who did not lose their fortunes in this financial crisis. The lawsuit indicated that the shareholders believe that the senior management of the Las Vegas Sands Corp. did considerable wrong in the way they managed the company’s funds and the plaintiffs have alleged that the company has even made some sort of admission to that effect.

For their part, the folks at Las Vegas Sands Corp. chose not to discuss any details related to any pending lawsuits at this time. Las Vegas Sands is not the only company to fall from such great heights during 2008. Others including Boyd Gaming Corp. International Game Technology and the MGM Mirage have also experienced some very difficult times. Each of these companies have had their stock prices fall anywhere from 70 to more than 90%. That is a tough blow for a company, even a strong company, to recover from.