Slot Machines Losing Money

It would seem that the recession is far from over in Las Vegas, as is evidenced by their slot machines. The casinos on the world’s most famous strip had their largest loss last month in 25 years. The slot machine casinos’ revenue dropped 25.7% in October alone.

The state has seen a steady decline in slot machine sales, but this was the worst one they have seen yet. For the past ten months, they have watched as their numbers slowly fell as fewer people are coming to the casinos, and those that are aren’t putting all that much money into the slot machines. Between the economy and rising gas prices, things are tough all over. This means very little disposable income for the slot machine playing.

The state Gaming Control Board said that this was the largest drop they had seen since monthly records started being kept back in 1983. What is equally tough about it is the fact that this time last year the Strip had seen a large win of 19.8% in slot machine and gambling revenue.

Comparing it to last year makes the numbers seem worse than they are because of the huge jump last year, but it does still mean that a usually prosperous month did so poorly. The casinos announced that their revenue was down $165 million from one year ago. They put approximately $5.4 billion in the slot machines and table games. They also say that there were a lack of special events to bring people to the slot machines and gambling tables, so that will hurt them as well.
 

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