My father always said that when the economy began a really deep downturn, Las Vegas would begin to see its economy booming. Well, it certainly is now. Las Vegas is seeing year on year growth in gaming revenue in the double digits. In October, the year on year growth in gambling revenue was 19.8%. That is a huge growth.
Meanwhile casinos in other locations saw a drop in revenues. Foxwoods in Connecticut saw revenue down 7% and Atlantic City saw a 5% drop. It is interesting to see how things will shake out in the near future as the economy sinks lower. Will the casinos elsewhere see a change in their income level?
Las Vegas proves immune to jittery U.S. economy, but not casinos elsewhere; Gary Rivlin (12/26/2007); International Herald Tribune; 12/26/2007.
