The online gambling business has been in the news so much recently that many have neglected land casinos. You don’t need to visit http://www.consumerfinance.gov/ to know that Brick and Mortar casinos have seen better days. The reason for this: Casinos rely on people to spend their disposable income, but since the recession hit in 2008 not many Americans have had this luxury. The past four years have been the worst Atlantic City has ever seen. The failing numbers have caused casino owners like Donald Trump to think about online gambling ventures.
There is good news though, recent number have shown US Land Casinos Starting to Recover. 2012’s first quarter for the country’s 492 non-tribal casinos had a 3% increases in revenue.
Frank Fahrenkopf, president of the American Gaming Association, is very confident with the industry’s progress. He says that “the recovery of the national commercial casino industry is well under way.” And if anyone knows, it’s him.
In 2011 the industry provided 339,000 jobs and earned around $36 billion in revenue. This was a job loss from the previous year, but employees pay rate did increase by 3%, which is one of the only industries that saw an increase in pay rate.
The recession hit America hard and it has taken quite a while to pull out of it. In fact, economic recovery hasn’t been this slow since the Great Depression. Some citizens even argue that there hasn’t even been recovery. the recovery of the casino industry seems to be coming along just fine.