Casino Expansion Slows, But Revenue Increases In United States
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While casinos all across the country have been experiencing sharp declines in their revenue numbers from this year, last year saw an increase in revenue. Casino revenue from 2007 was up 5.3 percent.
The American gaming Association released figures that contradict what most casinos and analysts are saying. They are claiming that revenue is down across the board for casinos in the United States.
A report released by the Association on Wednesday, however, claims that revenue was increased in 2007 by 5.3 percent. The total revenue from commercial casinos was $34.1 billion.
While those figures are strong, the casino boom that has been taking place across the nation has slowed. Recently, several states turned down the chance to legalize casino gambling. Among them were Kentucky and Massachusetts.
Other areas are showing rapid growth in the casino industry. Atlantic City is being hurt financially by slot parlors that have opened in Pennsylvania and New York.
While the numbers from 2007 were increasing, the Gaming Association is not oblivious to the current problems facing the industry.
“We’re facing some difficult economic times. People said for years that we were recession proof. I’ve been saying we’re not recession proof. we’re recession resistant,” said Frank Fahrenkopf, President of the American Gaming Association.
Sands Name Coming Back To Casino In United States
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The Sands casinos in Las Vegas and Atlantic City were legendary. The famous ‘Rat Pack’ used to frequent both casinos when in town. They were a must see destination when in either gambling town.
The Sands name has been missing from the United States since last summer when the Sands casino in Atlantic City was demolished. The Las Vegas Sands was destroyed in favor of what is now The Venetian.
Now, the Sands name will once again be on a casino in the United States. Sands Casino Resort Bethlehem will be the name of the new casino in Bethlehem.
“This is a great opportunity to reintroduce the brand in the United States for gaming. All in one, we get a wonderful city, a great brand, and a good locational identifier,” said Robert DeSalvio, the casino president.
The casino is on the sight of the former Bethlehem Steel plant. The casino name is bringing joy to some, but not to others that oppose the name.
“We used to be known as the Christmas City. I don’t like the sound of this at all. This will transform how we are viewed, and ultimately who we are,” said anti-casino group member Esther Lee, from Citizens for a Better Bethlehem.