CasinosTaking a Major Hit in Revenue
While is it not surprising that Las Vegas Casinos have seen an increase in revenue since it is the gambling capital of the world, the second largest market - Atlantic City - witnessed a major decline. This has been going on for quite some time, but the good news is that Pennsylvania has seen an increase due to the expansion of casinos in the state. Although the figures are not yet in, New York may see an increase in revenue since the opening of the Aqueduct Racino. In fact, to date, it has taken in more than $90 million dollars. Also, once the online poker legislation is signed by the Governor of New Jersey, we may see their numbers increase as well.
Casino Gambling is Not What it Used To Be
However, if you look at the total number of casinos in the US - most of them reported big losses in 2011. This is due, in part to the economy, as well as the increase in membership at online casinos. Another reason for the downturn is that travel to these gambling states has also been on the decline. Paying down credit cards, mortgages, and other household bills has taken precedence over everything else. Thus, gambling destinations have certainly not been a priority, while "stay-vacations" have been on the rise, as have online casino gambling.
Online Casinos Thriving
While the land-based casinos, with the exception of Las Vegas, are in a slump; the world of online gambling is surging. This is largely due to the fact that many new poker sites and new online casinos have opened its doors to US players. Add to this the huge incentives offered to new members as well as the fabulous casino games available, we believe this trend will continue throughout 2012. We highly anticipate that after the November elections we just may see the UIGEA Law repealed which will pave the way for the biggest wave of online gambling in history.