Las Vegas hotels and casinos have been hurt by the current economic status in the United States. To maintain their revenues Las Vegas casinos were hoping that foreign travelers would make up for the loss in revenue from travelers from the States. But this has not happened and the casinos are hurting financially.

Back in November travelers from outside the United States was down by nine percent from the previous year and it has continued to decline. In December the gaming revenue was down more than twenty three percent.

One of most frequent travelers to Las Vegas was of Asian descent. Asian gamblers would spend freely in the restaurants at the casino as well as on the casino floor. Many Asian high rollers like to play baccarat and revenue from baccarat was down almost fifty percent this past December in Las Vegas.

At the beginning of this year the numbers look even worse. We could see many more jobs lost at Las Vegas casinos or other drastic measures to compensate for the lost revenue due to the struggling economy.



- 2009-02-19