Poker Perambulation

Gaming revenues in Nevada fell 10.4 percent in 2009, the largest single year decline in state history.

Casinos statewide collected almost $10.392 billion from gamblers during the year, the lowest one-year total since 2003 according to figures released this morning by the Gaming Control Board.

Last year, gaming revenues totaled $11.6 billion statewide, which was a decrease of 9.7 percent.On the Strip, casino revenues were $5.5 billion, a decline of 9.4 percent compared with $6.12 billion in 2008. Gaming revenues in Clark County as a whole fell 9.8 percent to $8.8 billion.North Las Vegas, boosted by the opening of Aliante Station in November 2008, was the only reporting area of Clark County to show increase in 2009. Casinos in the market reported revenues of $286.2 million, a 1.2 percent jump compared with $282.7 million in 2008.Casinos downtown saw revenues decline 10.1 percent in 2009 while the Boulder Strip casinos were down almost 6 percent for the year.In December, gaming revenues statewide were $859.3 million, a decline of 3.2 percent compared with $888 million reported in the same month a year ago.

One of the sites I follow is Justin's HoP. He says he just found a new place to play. He likes it for it being one-hour closer in travel. Now one-hour shouldn't be a deal breaker. Of course, that assumes he liked what he found in AC. They have offered him free rooms that he's taking but he's still looking for greener pastures.

There are folks like Justin that have to get their poker Jones serviced. He does it in illegal rooms as an officer of the court. There is a lot of folks like him. I have no problem with that. He has disposable income and gets enjoyment from the activity. That is the backbone of the gambling industry.

The old LV and to a lesser extent AC catered to them but even more so to the true recreational gamblers. They had cheap buffets and cheap shows that attracted the masses and even were a value destination under rough economic times. The change came in financing along with a new business plan. The value idea has been replace by high-ticket events and services. That appeals under good times but has the results detailed above in bad.

Can the industry remake itself yet again? They will have to do it with a debt load that wasn't there in the past. In the old days, they could borrow from the Teamsters and never pay it back. That isn't an option.

I have more questions than Riggs seems to have answers.

Related posts:

1. Hoosier Thoughts
2. Riggs’d I tell ya
3. Online Poker is Riggs’d
4. Thank your Sir!