Online Gambling, Casinos, Poker and Sports Betting Magazine

U.S. Gambling Revenues in Freefall

A study released by the American Gaming Association has revealed that casino revenues in the U.S. have fallen dramatically in 2008.

Figures gathered from commercial casinos across 12 states have demonstrated that gambling revenues have fallen by 4.7 percent in the past year, dropping by some $1.6 billion to a total annual figure of $32.5 billion.

Conclusions drawn from the study have indicated that the current global economic recession has affected casino gambling as much as any other recreational industry, with “economic reasons” largely being cited as the main cause of reduced leisure spending by Americans.

Additionally, several external factors such as the smoking ban are thought to have deterred gamblers from attending their local casinos, but the AGA’s study did also indicate that there was a faint glimmer of hope for the industry in the near future.

Frank Fahrenkopf, president of the AGA, said that the numbers had appeared to stabilise towards the end of 2008 and that he felt the worst was behind for casinos. Furthermore, casinos in certain states such as Pennsylvania – whose new racetrack casino drew gamblers from neighbouring New Jersey – actually recorded a rise in yearly revenues.

Certainly, with the World Series of Poker commencing at the end of this month, casino operators in Las Vegas will be hoping that an influx of gamblers in Sin City can help them get figures back on track in 2009.