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Nevada Casinos Experience Significant Drop in Gaming Revenue in April 2010

It has been an uphill battle back to recovery for Nevada casinos and on June 9th, 2010, Nevada casino received more bad news. Gaming revenue at casino facilities in Nevada slide down by more than 5% in April 2010. The Nevada Gaming Control Board announced on Wednesday that revenue for gaming facilities in Nevada in April 2010 was $810.5 million dollars.

That was a drop of 5.7% over the same time in April 2009. In past few months, it has looked as the Nevada gambling industry had been recovering from the economic recession but the April results show the gamers are still staying away from the casinos.

But the news was not as bad on the Strip, where casino gaming revenue dropped by less than 1%. The total revenue for casino facilities in the Strip was $437.3 million dollars, showing that these casino facilities are still the gaming outlet of choice for gamers.

While the states of New Jersey and Nevada watch their gambling profits drop, Macau experienced a one hundred percent increase fro the previous year. Macau has attracted all Asian players that were accustomed to traveling to the United States, causing some of the drop in gaming profit in Nevada.

Atlantic City, which is located in the state of New Jersey, is once considered the best gaming destination in the U.S. behind Las Vegas, is enduring serious gaming competition from neighboring states.

Pennsylvania legislators approved casino table games in January 2010 and the states of Delaware, Maryland, New York and Massachusetts may soon become a serious threat to casino facilities in New Jersey.

For Las Vegas Strip, the condition has not been as bad over the first 10 months of the fiscal year. Casinos in the strip had a slight improvement in total revenue, with the figure improving to $4.79 million dollars.

The CityCenter project of Dubai World and MGM Mirage was expected to bring back customers in the city but it has failed to meet expectations.

 

News Released: 14 July 2010
News Submitted by:
Jessica Kellerman

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