Casino gambling industry continues to show no signs of improvement for many US regions, except for gaming hub Las Vegas.
Gambling news indicate that Las Vegas has been experiencing a slight rise in activity in recent times, which would highlight a recovery that has long been awaited. Rating agency Moody’s Investors Service believes that US gaming market is facing hard times ahead, while the only exception being “Sin City” with its improved results.
Moody’s has downgraded the US gambling industry from “stable” to “negative,” indicating the dire atmosphere in the business. Mobile casino gambling sites were introduced in some states as a way to generate much needed additional revenue, however that pursuit has so far not paid of either.
Las Vegas brings in more than half the state’s gambling revenue
Nevada operates a total of 265 casinos, which recorded a combined revenue of $11.14 billion in 2013, a rise of 2.6 percent from a year before. According to studies, this was the biggest amount since 2008, when the global financial crisis greatly affected the once prominent gambling destination.
Las Vegas’ most popular street the “Strip” is where all the major gaming and entertainment companies have their casinos that generate billions of dollars. Gambling news estimated that in 2013, of the $11.14 billion achieved through all of Nevada’s casinos, the Strip was responsible for over half of that sum. It accounted for $6.5 billion in that particular year.