Casinos.co.uk: Casino News Archive
Thursday 3rd January 2008
Viva Las Vegas, as gambling on The Strip is up
The year hasn’t been great for either the US economy or poker at large. Most of 2007 saw the US economy lagging, and with the rise of new gambling markets like Macau, Vegas might have felt under pressure. However, Las Vegas has fought back, having had a great October compared to 2006.
A story published in the New York Times this week reports that revenue from gambling on the strip was up 19.8% on October 2006. The growth was a surprise to some, as the rest of the US economy was suffering, with an unstable stock market, a declining house market and rising energy prices.
However the boost was not shared across all North America, with riverboats in the Midwest and tribal casinos reporting slowing growth. Revenues in some locations were actually down 5%.
Whilst some felt that the bristling Chinese economy might have been a threat to Vegas, it has actually been contributing factor in the Strips sudden boom, with many Asian players travelling to Nevada to try their luck. The weak dollar has also seen players from around the world more willing to gamble with a more favourable exchange rate.
The forecast for Vegas isn’t all roses though. Atlantic City is going ahead with the construction of several new casinos, including an enormous MGM Atlantic City, whilst the Chinese gambling mecca of Macau is growing fast.
Source:OnlineCasinoNews
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