Posts Tagged ‘recession’

Vegas finally on the rise

Vegas has been fighting the recession for the last 2 years, with large casino companies going bankrupt and others defaulting on loans and finding it impossible to get finance to carry on developments.  Finally Vegas has reported a month of increased revenue which looks promising.  According to the Gaming control board in November casinos took $873m making it a state wide increase of 4%.  The previous year things were looking terrible with no end in sight.  The Vegas strip has reported an increase of 7% in takings this month.

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Slump hits US gambling

The recession has affected the land casinos and the online casinos in a big way, with $1.6 billion less being spent in 2008 than the previous year.  US casinos have seen revenues fall 4.7% in 2008 down to $32.5 billion. It wasn’t just the recession that caused these low figures but also factors such as the smoking bans across the US.  The worst is apparently over and revenues should slowly be increasing once again.

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Recession brings around rise in stock broker high rollers

Despite the global recession we are all suffering stock brokers are taking to a high roller lifestyle.  Stock brokers have been wagering larger amounts of money than usual at online casinos and lap dancing establishments such as Stringfellows have seen a huge rise in profits due to excessive spending by stock brokers.  Stock brokers are spending to escape reality such as what alcohol is used for.  Online casinos and land casinos have both experienced a rise in high roller gambling.

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Recession increases online casino progressive slots play

The recession has caused most of us to watch how we spend.  People are watching the luxury things they spend on such as personal trainers, sports cars and holidays.  I spoke to a personal fitness trainer in Notting Hill London and they said that the recession had certainly hit personal trainers in terms of new customers joining up for a bit of a lifestyle change and then dropping off but long term customers and customers serious about fitness were sticking to it and not going anywhere, the same could be said about online gambling.  Online gamblers who are passionate about it are still here but lots of the newcomers who would have started gambling due to excess cash are not.  Players are playing differently now in the recession.  People are watching exactly how much they are gambling as they could be out of a job tomorrow.  Alot more progressive slots are being played in hope of winning the progressive slots jackpot to beat the recession.  High rollers who like games such as the high roller slots are still playing and not changing their budget much these kinds of players don’t always tend to be affected by the recession although if their companies are in trouble they may curb down their high roller antics.

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Online casino operators suffer the recession

Online casino operators are now suffering the recession after players at online casinos withdraw their casino deposits to put into their bank accounts.  With a sudden rush of online casino withdrawals online casinos are certainly suffering.  After Lasseters casino closed this week there has been a bit of uncertainty in the air and therefore people have been withdrawing more so than ever from their online casino accounts.  Ausvegas closed the week before, then followed by Lasseters will any other online casinos close down because of loss of profits like Lasseters suffered, only time will tell.

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Recession causes a run on the online casinos

The financial crisis we are all currently struggling through has hit the online casinos with a run on the casinos like a run on the banks loads of customers of the online casinos are rushing to withdraw casino money from their player accounts to put somewhere safe as they panic.  Online casinos are doing their best to encourage players to keep money in their account but it is certainly proving difficult for the operators.  Many online casinos have put limits on how much could be withdrew quickly when they first set up the online casinos so allot of people withdrawing large amounts of money wont receive it instantly.  Make sure you read about fast withdrawal casinos and which online casinos are the best fast withdrawal casinos in our articles section.

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Online gambling is still flourishing despite fears of recession

With a recession lurking over our heads it is surprising online gambling is still flourishing.  Online gamblers are gambling as big as ever and high rollers in the city sector are still throwing down the big bets on the online blackjack and online roulette tables.  This is happening both in the UK and the USA despite the ban on online gambling in the USA.

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Casinos not proving recession proof

Casinos are not proving recession proof which they once were perceived to be.  Casinos shares have dropped 16% on the Las Vegas strip as people tighten their belts.  Room rates are being reduced and construction projects are having to be reconsidered.  Before it was easy to build casinos and investors only need to put up a quarter of the price for a multi million dollar line of credit now they have to put up half which is a huge difference.  The whole recession is down to over spending, and banks promoting overspending, eventually a down turn will happen and it has.  Casino developers were going aggressively forward and now they are going to have to suffer for awhile.

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