The economic woes are continuing for everyone and gambling casinos are feeling the recession just as much as everyone else. With no signs that the economy will be making a turn around anytime soon it’s not looking good for a lot of big name casinos. For example one of the oldest casinos in Atlantic City are on the clock to be foreclosed on. The first casino to open it’s doors in New Jersey the Resorts Atlantic City may soon see the closing of it’s doors in 2009.
Resorts saw a big drop in income from last year some estimates have them dropping off by more than 15% from last year. This is happening to gambling casinos all over the country as revenue generated by gambling casinos is being reported to be down well over $1 billion dollars from the past year. Atlantic city alone which is the second largest gambling city in the US dropped well over 7% from the prior year.
In Las Vegas the the story is much of the same hotel rooms are empty and gambling casinos are seeing less patrons with less money being brought to the tables. It’s gotten so bad in Nevada that depends so heavily on Las Vegas that their state government is kicking around two proposal to increase the missing tax revenues. The first proposal is to drop the legal age to gamble in the casinos. Great get them while they are young and impressionable that’s a wonderful idea!
The other proposal is more specific to the county of Clark which happens to be the county that Las Vegas is in. The proposal is to legalize prostitution which is pretty widely known to be a thriving business in Las Vegas already. This would just enable the state to get their piece of the action with tax revenue. Much like they do in other counties in Nevada where prostitution is already legal and generating tax income for the state.
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