“Bets are off: Indian casinos suffer in bad economy”
“While Indian casinos don’t have to report their revenue, gamblers say they are visiting less frequentlyand wagering less.
Some gamblers who would have traveled to Nevada are wagering closer to home, casino operators say, but not enough to offset the smaller amounts of money they are spending. Fresnans Donna and Chuck Henderson, who used to gamble every other day, say they now visit twice a month and stick to penny slots.
Gaming analysts say California tribal casino revenues are likely either flat or suffering single-digit declines. Gambling revenues in Nevada are down 22 percent from last year,” quoting the AP in the San Jose, CA. Mercury News…
“Casinos rolling snake eyes in bad economy”
“Lotteries, horse racing also suffering as gamblers sit on their wallets”
“Scratch one axiom.
It appears that weathering the tough economy is enough of a gamble for most Americans. Casinos, lottery agencies and racetracks are losing tons of money as gamblers play it safe, laying to rest once and for all the old nostrum that gambling is a recession-proof industry.
The Nevada Gaming Control Board reported last week that revenue at the states casinos fell by 22 percent in October, compared with the same month last year. It was the 10th straight monthly decline and the biggest ever. The story was even worse on the Las Vegas Strip, where the October take was down by 26 percent. The steep downturn has sparked a movement to lower the legal gambling age to 18…
Washington state casinos, meanwhile, reported a 30 percent drop in revenues so far this year, thanks to gamblers who arent willing to bet it all these days.
‘They come in less often and spend less money,’ said Scott Taylor, manager of the Classic Island Casino in Kennewick, Wash…
‘As people have tightened their belts, in some instances across the country, they havent chosen to wager at the tracks,’ said T. Kevin Flanery, senior vice president of Churchill Downs in Louisville, Ky., home of the Kentucky Derby.
‘The gaming industry as a whole has at times been described as recession-proof, but I think thats not always true,’ Flanery said,” quoting MSNBC.
WITH INDIAN CASINO REVENUES SHARPLY LOWER, DID THE CITY OF YELM TAKE INTO ACCOUNT ON THEIR 2009 BUDGET POTENTIALLY LOWER INCOME RECEIVED FROM THE NISQUALLY TRIBE & RED WIND CASINO?