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US Casino Industry Bouncing Back from Low 2008 Records

February 26th, 2010 | Comments Off | Posted in News

In a recent survey of the financial states of the casino industry in the United States, analysts have expressed positive numbers for the US casino sector of the market which has been struggling in recent years. While 2008 was a fairly devastating blow to the industry, it looks as if the 2009 statistics are proving that the sector is bouncing back with a remarkable vigor. The recession affecting the US right now has hit the casino industry hard, but the business heads are working their way around the problem steadily, developing new strategies by which to take on the problem and deliver better gaming environments to patrons strapped for cash more so than in brighter financial times as well as adjusting expansion schemes to more accurately fit in with the current economic climate. Through the selling of shares, many casinos have been able to pay down large debts that they and other corporations had racked up during the boom years.

Fourth quarter results for 2009 have shown much improvement over numbers taken in the same quarter of 2008, showing the strategies being pursued are paying off as well as had been hoped. Penn National Gaming in particular has come up at the top, earning its investors a full 19 cents per share after pulling in over half a billion dollars in revenue as opposed to 2008 when it had lost more than four dollars a share in a shocking strike to its business. With 19 different casinos, plus horse racing stadiums in over a dozen US states, the company has seen its share of losses spread across its empire.

US Island State of Hawaii Hoping for Casinos to Ease State Budget

February 8th, 2010 | Comments Off | Posted in News

As casinos in the United States have consistently proven to be strong owners for the states in which they are established, Hawaii, the last of the 50 states to be added to the Union, is currently considering adding casinos as another way to lure in tourists who come from around the world to enjoy the tropical paradise the chain of islands is known for. Lawmakers have been getting together to hash out the details of a plan to allow casinos to be established there and among them, Calvin Say the House Speaker has suggested that a casino being legalized would bring millions of dollars into the account of a state that is struggling under the current economic situation in the US. This option for the state budget is certainly a welcome one for many other lawmakers who also believe that the benefits of added jobs would be a real boon for Hawaii.

For many citizens of the islands, the potential jobs are the focal point because despite the state’s large tourism industry, without new developments there can be no new places to work. Since the casino that would most likely want to set up business in Hawaii would be quite large, the number of employment opportunities created is estimated to be quite large and nearly five thousand in total based on average statistics of similar sized ventures. This means Hawaii is following a growing trend across the United States, joining a large number of states that are steadily reworking their gambling legislation to permit and license casinos as a way to get their state budgets up to a more financially stable level.