LAS VEGAS – Las Vegas is one of the world’s premier gambling destinations. But, competition is heating up as more states are turning to the lure of easy money.
“I’m out for six weeks on a driving tour of the United States, and I don’t think I could go through a state without seeing a casino,” said Las Vegas visitor Jim Katena.
What happens in Vegas may stay in Vegas, but gaming isn’t staying in Nevada. While Las Vegas drew about $5.5 billion in revenue last year, it faces competition from other gaming markets. According to the American Gaming Association, the country’s top 20 gambling destinations can be found in 12 states.
But, not everyone is ready to abandon Las Vegas for a closer casino. “Vegas is a lot more fun,” said Las Vegas visitor Jim Schwarz. “It seems to give you a little bit better proscar pharmacy play for the money.” “I live in California,” said Las Vegas visitor Janie. “They have casinos there, but I usually don’t go to them, no.”
“Now that gaming is more penetrated than it was when California gaming expanded with tribal casinos, there is some risk to visitation to Las Vegas to the extent that new states like Massachusetts, Kansas, Ohio, New York, etc. expand,” said Union Gaming Group gaming analyst Bill Lerner.
Casinos create more than 328,000 jobs around the country, generate almost six billion dollars in direct gaming taxes, and bring in nearly $31 billion in gross gaming revenue. That’s a big draw for struggling states that need some good fortune.
Analysts dismiss concerns that the increased competition is already taking Nevada business. They say Nevada’s recent economic problems are more of a reflection of the national recession.