Casino revenues rise, but jobs drop in 2010

After two solid years of struggle for casinos, where gamblers chose to stay away when money was tight, the casinos across the country are finally beginning to recover, as they see revenues start to climb despite the drop in the number of jobs.

An annual survey released on Wednesday, May 4, by the American Gaming Association showed that among the 483 commercial casinos in the country, there was an increase of almost one percent in earnings since 2009, rising from $34.28 billion to $34.6 billion.  This was the first increase that was seen in casino revenues in three years.

That said, within that same industry, the number of jobs fell by 1.4 percent, declining by 4,346 jobs to reach 340,564.  This was the result of efforts being made by casinos to compensate by the economy which continues to struggle.

President of the American Gaming Association, Frank Fahrenkopf Jr. said “There’s no question the last several years have been challenging for the commercial casino industry,” and that “There’s good reason to be optimistic about the future of gaming. The industry has made tough choices and implemented new strategies to persevere.”

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Posted by Sarah Wang on May 5 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.