When state governments become addicted to Gambling Revenues, the decline caused by Gambling Market Saturation is significant.....you can't GAMBLE your way to prosperity!

U.S. casinos continued to struggle in August

 

By Thomas Ott, The Plain DealerThe Plain Dealer


The U.S. gaming industry continues to struggle, based on a stream of August revenue reports.
A comparison of the month with the same period in 2012 shows:

• Slots revenue fell nearly 4 percent in Pennsylvania, which reports slots and table-game figures in alternating months. Decreases were reported at nine of the 11 casinos open in 2012.
• Revenue fell 3.5 percent at Detroit's three casinos. MotorCity's numbers rose 1.5 percent, but totals fell 4.8 percent at the MGM Grand and 7.7 percent at Greektown, recently acquired by Cleveland casino owner Dan Gilbert.
• Northwest Indiana's five casinos reported taking in 3 percent less. Revenue for the first eight months was off 4.5 percent when compared with the same stretch in 2012.
• Two of Atlantic City's 12 casinos reported double-digit increases, but, overall, revenue fell 5 percent. Atlantic City casino revenue was down during each month of the summer season.
• Revenue declined at five of six St. Louis-area casinos. The market's revenue declined more than 3 percent overall, compared with the same month in 2012, but individual casinos saw decreases as large as 10 percent.

Ohio regulators released new monthly revenue figures last week. The three venues open for a full year all reported declines from August 2012: 17 percent at the Horseshoe Casino Cleveland, 15 percent at Scioto Downs Racino in Columbus and 9 percent at the Hollywood Casino in Toledo.



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