- This topic is empty.
-
Posts
-
Colorado feeling the pain of the recession
October 21, 2008 (InfoPowa News) — Colorado’s gambling regulatory body has released depressing revenue figures for the state’s land gambling operations reflecting the international trend to lower gambling revenues already reported from Las Vegas and Macau.
Revenues for September 2008 were down compared to the same period last year, with state-wide revenues of $59.3 million — a decline of 18.72 percent in Central City, Black Hawk, and Cripple Creek.
Central City reported revenue of $5.4 million for September, down 26.4 percent from September 2007; Black Hawk casino revenues declined 19.97 percent to $41.14 million and Cripple Creek’s casinos recorded a drop of 10.3 percent to $12.8 million.
If they would have raised the stakes and got some crap tables up there like a lot of us citizens wanted in the past then it may have helped.
In a way I guess it’s a good thing that the crap tables were not there or I would have been making the 45 minute drive more often. hehe
Well, it’s a good bet (no pun intended) that they’re going to be making some changes, so you just meet see those tables. Of course, it’s going to be too late to win over the gamers who have already gone online.
What they’re experiencing is a jolt that’s similar to every other industry as people get more and more comfortable doing their shopping online shopping. The casinos thought they were immune, and recession-proof, but they’re not.
The downside is that the land casinos are probably going to start hard-core lobbying to get online gaming even more stigmatized. So we could see more situations where casinos try to eliminate online competition by buying off politicians. Sort of like what’s happening in Kentucky …
