US casino revenue slips 5.5 percent in 3rd qtr
Published 2:24 pm Thursday, November 19, 2009
The head of the American Gaming Association says U.S. commercial casinos made $7.94 billion in revenue in the third quarter, 5.5 percent less than a year earlier.
Frank Fahrenkopf Jr., president and CEO of the industry group, said Tuesday that while economists believe the country is moving beyond one of the worst recessions in history, that’s not a practical reality for many casinos or their customers.
Fahrenkopf says there’s optimism among industry leaders that things are no longer worsening but no consensus about the future.
Fahrenkopf spoke at the Global Gaming Expo, a top industry conference in Las Vegas that also is showing weakness. Fahrenkopf said exhibitors signed on for roughly 20 percent less space than last year.