On December 13th, 2007, as the country sits on the edge of trouble and different problems like the increasing gas and food items while income remains in an average level or is even declining in most states in the U.S. But one market that continues to show good improvement, with no sign of decline or stagnation is the casino industry in the Las Vegas Strip. This is due in part to the online casino ban in the US.
According to the data held by the Nevada Gambling Control Board, the state’s casinos won a total of $1.15 billion in October, posting an all time record set in July of this year. The increase was almost ten percent bigger than the amount of gaming winnings in October 2006.
Las Vegas casinos produce over $1 billion for the very first time in one month. The resorts in Southern Nevada posted a twenty percent improvement in revenue. Not all locations enjoyed the same improvement. Reno casino facilities showed a decrease of 8.7% and Tahoe casino facilities dropped 6.4%. Casino table games were mainly responsible for the good performance, leading the way with 21%, while the slot machines posted a five percent improvement.
High-stakes baccarat was the best of them all, having put up over $100 million, an improvement of 338%. Some of the more well known casino games remain in an average level or even suffered some losses. Blackjack results were up 3.3%, while craps suffered a 12.9% decline and sports betting suffered a 57% decline.
Comparing the Las Vegas casino industry with other casino industries like Missouri, it seems that the Las Vegas strip is catering to the high-rollers or those individuals that has a lot of money.
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