Las Vegas Casinos Bouncing Back
The U.S. recession has even taken a toll on gambling. But now, the casino industry, which has been in a record two-year decline, may be emerging from the impact of the nationwide economic slump.It is good news for companies in the casino industry, such as Sightline Payments LLC , and its president, principal founder and CEO Kirk Sanford, that gambling revenue on the Las Vegas Strip rose 2.8% in September 2010. As compared to September 2009, when Strip revenue was $506.4 million, this September showed an increase in revenue to $520.6 million.
In addition, the 28.2 million people who visited Las Vegas in the nine months ending in September represented a 2.4% increase from one year earlier. As part of this improved financial picture, resort operators in the casino market are now aiming to drive the prices of rooms higher after more than two years of cutting rates in an effort to attract visitors during the recession period.