Good February Figures for Las Vegas Casinos
With the financial crisis and the rise of online gambling it has been a bad time for the Las Vegas land-based casinos. After three years of declining revenues it now appears that the trend is turning, as profit figures for the month February look promising.
Less Casino Visitors
Although the American government has done its very best to make life complicated for online casino operators, the land-based casinos have experienced fierce competition from online gambling operators. Over the last 10 years the number of American Citizens that visits a regular casino has declined from 35% to 30%.
Good February Figures
With the decline in live casino visitors logically comes a decline in revenues. Over the last three years revenues kept decreasing, but February 2010 seems the exception to the rule. In this month Vegas state casinos reported revenues of $946.6 million, compared to $831 million in the same month last year.
Whether or not this 14% increase means a shift in the trend is absolutely not certain. February 2010 may very well have been an exception to the rule because two major Las Vegas casino events fell in the same month.
Super Bowl and Chinese New Year
These two events are the Super Bowl and the Chinese New Year, big happenings that did a lot to boost the revenues on the Las Vegas Strip. These events are the biggest events of the entire year and are of key importance for casino revenues. Gambling analysts believe that the February revenue boost is almost completely caused by these two events.